Global Agriculture Joint Venture Co., Ltd will invest USD $ 115 million in private teak plantation and producing teak

Britain-based Global Agriculture Joint Venture Co. will invest $115 million in establishing the private teak plantation and producing teak, according to the Directorate of Investment and Company Administration.

The company will invest in establishing teak plantations and produce teak in Okkan Forest Reserve number 38, 39, 40, and 41 in Taik Kyi Township, Yangon Region and Thonesel Forest Reserve number 64, 65, 66, 67, 68, 69, 74, and 41 in Tharyarwady Township, Bago Region.

The Ministry of Natural Resources and Environmental Conservation has stopped timber production and imposed ten years ban on the production of teak and hardwood from Bago mountain ranges.

Moreover, the ministry is implementing forest replantation and reservation projects in Regions and States. The ten-year project from 2017-18 Fiscal Year to 2026-27 Fiscal Year in two five-year terms.

So far, the agriculture and forestry sectors have received a total of $130 million foreign direct investment this year with Global Agriculture Joint Venture Co.’s $115 million projects being the biggest.

(Myanmar Business Today: https://mmbiztoday.com/britain-to-invest-115-million-in-private-teak-plantation/ )

​