Myeik keen to implement int’l fish auction market, industrial zone project

 

By Zin Lin Myint
Translated by TTA

Nowadays, the government is striving for regional development tasks in various parts of regions and states. Local and foreign investments are invited to operate the businesses in mutual interests, and disciplines and restrictions are being eased as much as possible for putting investment in Myanmar as well. The country needs to have investments in various sectors at a time when multiple development tasks are being undertaken across the nation. Currently, efforts are being made to implement an international fish auction market and an industrial zone project near urban area of Myeik

Township in Taninthayi Region.
Arrangements are being made to implement the project near Kyweku Village of Kyweku Village-tract in Myeik Township. More than 2,000 acres of land has been earmarked to be allotted for the project. It was learnt that the proposal for implementation of the project was submitted to Taninthayi Region government. As Myeik Public Corporation Limited will invest some US$300 million in the project, the proposal has been submitted to the Union level authorities.
“If we receive approvals from the region government and the Union government, we will launch implementation of the project. If we have got the permit for the project, it will create a large number of jobs for local people. Plans are underway to manufacture finished products with the use of raw fish,” said U Hla Than, Chairman of Myeik Public Corporation Ltd.
Officials of Myeik Public Corporation Ltd expected the Union government would approve the project. It is because there needs to have a fish auction market meeting international standards and industries to produce finished products at home, especially nearby Myeik, to be able to penetrate fish products of Myeik area into the international market. The forthcoming project will fulfill the requirement of the country, benefiting local people.
Up to now, local young people from Myeik area are working in Thailand. Upon completion, the project will create plentiful of employment to local youths. Consequently, Myanmar youths will have to work with deserved rights for earning income without need to depart from their native lands.

As raw fish produced from Myeik area will be manufactured as finished goods to be exported, those local youths will have chance to closely observe techniques of producing finished goods with the use of raw fish under the supervision of experts. Myanmar employees will also have to grasp the opportunities of observation over practical and theoretical production of finished goods meeting set standards in time, production, storage, transport and distribution in the fish market of international community. In the future, the project will help enhance capacity of skilled labourers in relevant workplaces.
Actually, an international fish auction market had been in Myeik. Such market was located on 103.57 acres of land in Inlay Myaing Industrial Zone of Myeik in year 2000. The fish market project was launched with order of permit 348/2000 of the Myanmar Investment Commission on 29 September 2000. The Department of Fisheries possessed 30 per cent of share, Myanmar Setraco Company, 60 per cent and the name of entrepreneur, 10 per cent.
The fish auction market was operated as of 1 October 2001 with US$20 million loan from foreign country but the project was suspended on 28 February 2003 because of least experiences and expertise, and bad trading. Although foreign investors wished to put their monetary investments in the project, work process delayed due to some problems of remitting investment money.
The forthcoming international fish auction market and industrial zone project is not similar to the past one. Myeik Public Corporation Ltd will put monetary investment in the project. Although the past fish auction market took a position in Inlay Myaing Industrial Zone of Myeik, the forthcoming international fish auction market will be built in the area near Kyweku Village of Myeik Township.
If the international fish auction market and industrial zone project have been implemented, it would have developed businesses related to the project and social lives of the people. Moreover, it is expected to export finished fish products to international market via the market of neighbouring country based on Mawtawng road. So also, finished goods can be sent to Yangon which is domestic market and economic hub.
Actually, marine products produced from Taninthayi Region rely on the market in Thailand. As the largest volume of fish resources captured from the water along Myeik coast flows into the fish market in Thailand, businesspersons cannot gain deserved profits. As such, efforts are being made to implement the international fish auction market and industrial zone project in Myeik area so as to control the Thai fish market.
That is why the project which can increase earning of foreign exchange for the State and create a large number of job opportunities for the local people will be important for development of Myeik area as well as for penetrating deep into the international fish market.

Share this post
Hot News
Hot News
Meat production should focus on frozen and dried products
Meiktila possesses chances to export surplus products to domestic and foreign markets
Weekly Roundup
Tatmadaw regains control of Pa-O Self-Administered Zone, Kayah State after raid by PNLO, PDF terrorist groups
MAI plans Yangon-Vientiane flights on 25 June
MMPO to present cash assistance to offspring for 2024-2025AY
Five new basic education, industrial, agri and livestock High Schools open in Mandalay
Myanmar, ASEAN Japan Centre envisage collaboration in 2024 projects
CBM authorizes two more forex companies for petty cash purchases
Kampaiti border set to hit US$5M trade target in June