Cambodia, Myanmar offer VN firms great investment opportunities
Cambodia, Myanmar offer VN firms great investment opportunities
There is a huge opportunity for Vietnamese firms to invest in agriculture in their countries and export agricultural produce to other markets, Cambodian and Myanmarese officials have said.
Meach Yady, chief of agricultural marketing at the Cambodian Department of Planning and Statistics, said his country has invested a lot in agriculture but the sector has not developed commensurately.
He was speaking at a meeting held in HCM City last Friday to introduce the International Exhibition and Conference on Agriculture, Livestock, Aquaculture, Fisheries for Cambodia and Myanmar
Cambodia imports large quantities of fisheries products, animal feed, fruits and vegetables, dairy, and other agricultural products including from Viet Nam, he said.
“There is great potential for investment in the agricultural and agri-business sectors.
“The Government is modernising logistics and infrastructure and streamlining the process to facilitate business processes.”
Vietnamese firms can invest in growing rice, cassava, maize, mung beans, vegetables, rubber, livestock, and fisheries, he said.
Businesses can invest in expanding fragrant rice cultivation or rice milling targeting niche and specific markets, and in the rice seed industry, he said.
Besides, investment to produce quality inputs such as fertilisers and pesticides to increase productivity is also needed because farmers complain about the poor quality of imported inputs and possibly fraudulent labelling by unreliable suppliers, he said.
The cassava sector needs investment to make quality chips and pellets complying with international standards for export to China and Korea, while mung bean production has been hampered by the poor quality of seeds and therefore requires investment in seed production, he said.
He also called on Vietnamese firms to invest in vegetable production and processing as his country imports large volumes from Viet Nam.
Investment in harvesting equipment and post-harvest processes is required to reduce losses during harvest and transportation, he said.
Many Vietnamese firms have invested in Cambodia, mostly in rubber, cassava, and sugarcane, and his country wants them to invest more as well as in more sectors, he said.
U Hnin Oo, vice president of the Myanmar Fishery Federation, said his country wants to boost exports of fisheries, but few of its processing facilities meet EU markets.
Since Viet Nam is strong in fisheries exports, his country wants to co-operate with Vietnamese firms, he said.
Besides fisheries, livestock breeding also offers investment opportunities for foreign investors, including Vietnamese, he said.
According to the Myanmar Livestock Federation, with a population of around 54.5 million and increasing income, Myanmar offers opportunities in livestock and animal feed production.
Investment in livestock production could be 100 per cent foreign or joint ventures with local individuals or relevant Government departments or organisations, he explained.
International exhibitions
The exhibition -- two of them, to be held from August 2 to 4 in the Cambodian capital Phnom Penh and from September 27 to 29 in Yangon in Myanmar -- would offer Vietnamese firms a good opportunity to understand more about those markets and explore business and investment opportunities, delegates said.
The events are expected to attract 80-100 exhibitors each and 2,500 trade visitors, according to Minh Vi Exhibition and Advertisement Services Co.Ltd, the organiser.
Ten Vietnamese firms took part in the expos last year and the number is expected to be higher this year, it said.
In addition to showcasing latest technologies and equipment as well as agriculture, livestock and fisheries products, the biggest international agricultural exhibitions in Cambodia and Myanmar also feature business matching between suppliers and distributors and professional conferences and seminars to help participants understand the investment opportunities in the two markets.
