Myanmar agro companies look abroad

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Japan is expected to receive nine private agriculture companies from Myanmar in the beginning of October, promoting the new investment friendly image of the reformist government.

Investment in Myanmar’s agricultural sector has amounted to just $173 million in aggregate since the 1960s, compared to $18 billion in power, $2.7 billion in mining and $1.7 billion in manufacturing, according to statistics published by the Union of Myanmar Federation of Chambers of Commerce and Industry.

The delegation to Japan, which will be visiting Fukuoka and Japan, will be visiting Japanese businesses to discuss possible cooperation, as well as study Japanese agricultural technology.

The group, headed by the director general of the Agricultural Mechanisation Department, will also visit Bangkok, Thailand.

Likely to be on the minds of business counterparts – if not on top of the agenda – is the long-awaited signing of the country’s newly amended foreign investment law, believed by many to herald dramatic changes to Myanmar’s investment climate.

Announced by parliament on September 7, President Thein Sein has now 15 days to dispute or enact the changes made to the law.

Among the amendments being mooted are raising of foreign ownership allowance from 49 to 50 per cent and removal of the controversial $5 million minimum investment clause.

Since the 1960s, Myanmar has attracted a total of around $40 billion in foreign direct investment. In the recently rejuvenated economy free of the shackles of sanctions, experts are hoping that the law will usher in an unprecedented amount of investment attention.

 

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Reading Time: 2 minutes

Japan is expected to receive nine private agriculture companies from Myanmar in the beginning of October, promoting the new investment friendly image of the reformist government.

Reading Time: 2 minutes

Japan is expected to receive nine private agriculture companies from Myanmar in the beginning of October, promoting the new investment friendly image of the reformist government.

Investment in Myanmar’s agricultural sector has amounted to just $173 million in aggregate since the 1960s, compared to $18 billion in power, $2.7 billion in mining and $1.7 billion in manufacturing, according to statistics published by the Union of Myanmar Federation of Chambers of Commerce and Industry.

The delegation to Japan, which will be visiting Fukuoka and Japan, will be visiting Japanese businesses to discuss possible cooperation, as well as study Japanese agricultural technology.

The group, headed by the director general of the Agricultural Mechanisation Department, will also visit Bangkok, Thailand.

Likely to be on the minds of business counterparts – if not on top of the agenda – is the long-awaited signing of the country’s newly amended foreign investment law, believed by many to herald dramatic changes to Myanmar’s investment climate.

Announced by parliament on September 7, President Thein Sein has now 15 days to dispute or enact the changes made to the law.

Among the amendments being mooted are raising of foreign ownership allowance from 49 to 50 per cent and removal of the controversial $5 million minimum investment clause.

Since the 1960s, Myanmar has attracted a total of around $40 billion in foreign direct investment. In the recently rejuvenated economy free of the shackles of sanctions, experts are hoping that the law will usher in an unprecedented amount of investment attention.

 

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