Kachin Ethnic Entrepreneurs Association will organize the first time economic forum in Myitkyina with the aim to develop Kachin’s economy with the help of local and foreign investments

Diversification has become necessary for establishing a sustainable economic environment in Kachin State, which is overly dependent on the mining industry, says U Tangbau Naw Kham, vice chair of Kachin Ethnic Entrepreneurs Association.

U Tangbau Naw Kham said this after telling the Myanmar Times about an economic seminar that will be held at the Manaw Grounds in Myitkyina on November 15 and 16. The main focus of the event will be the development of a sustainable economic environment in Kachin.

“Depending only on mineral resources, Kachin has fallen behind other regions and states in terms of development and to change that situation is one of the major objectives of Kachin entrepreneurs,” he said. 

“Kachin state is very much behind in development compared with other states and areas. Apart from the resource-based industries, we have only traditional subsistence businesses in Kachin.  We have many potential economic sectors to explore like other states. It is high time to grasp those opportunities to shape sustainable economic development of Kachin state,” U Tangbau Naw Kham said.

The seminar in November is expected to focus on six major sectors - agriculture and livestock breeding, sustainable resource-based industries, tourism, construction, traditional weaving, and the retail and wholesale sector, he said.

“The main objective is to help develop Kachin’s economy with the help of local and foreign investment. But we also want Kachin people to acquire knowledge so that they will be ready before investments come. That is why we are preparing to hold the economic seminar prior to big events like investment forums,” said Kachin State Entrepreneurs Association Deputy Secretary Ms Emma Ja Brim.

Currently, difficulties such as unreliable transportation and insufficient electricity hinder businesses from expanding in the state, said U Tangbau Naw Kham.

For infrastructure development, a solution has to be sought based on the outcome of discussions between ethnic business owners across the country and business organisations in ASEAN, he said.

“Indawgyi Lake, which is globally famous is situated in Kachin State. There are many places that can be the focus of ecotourism, places like Puta-o’s snowy mountains, and areas where endangered species of birds and turtles inhabit. With these advantages we need to attract investors to promote commercial tourism,” said Mr Seng Hkum, founder of Green Xingra Eco Tours and a member of Kachin State Entrepreneurs Association.

Currently, Kachin State has only visitors going to Myitsone and Puta-o for tourism and the state needs much more development for commercial tourism, he said.

“Tourists visiting Kachin only come from October to April. Actually, Kachin has many places where people can do things life rafting even in the rainy season. We have to let people know that there are many opportunities to develop tourism and ecotourism,” he said.

In a report on northern Myanmar, Transnational Institute, an international non-profit research and advocacy think tank, said just a quarter of the total foreign direct investment in Myanmar is channelled towards Kachin, with some US$8.3 billion going to sectors such as jade and gold mining and hydropower projects.

However, no FDI has gone towards in manufacturing, agriculture and livestock, transportation, construction, and tourism in the state and there are only investments from local businesspeople in these sectors.

Kachin businesspeople have begun efforts to see that SMEs in Kachin State receive more investments to promote local products and services around the country and in international markets and more than 300 businesses based in the state will participate in the effort.

“We aims to encourage more people to become entrepreneurs by setting up production businesses and to provide services, besides resource-production businesses. Kachin locals often don’t have enough experience to expand businesses, so these efforts will require a lot of assistance,” said U Tangbau Naw Kham.

As the Kachin Ethnic Entrepreneurs Association is part of the Myanmar Ethnic Entrepreneurs Association (MEEA), it will be inviting people from small, medium and large businesses in Pa-Oh, Mon, and Rakhine for the November forum, said Ms. Emma Ja Brim.

The economic forum, being organised for the first time by the private sector, will set the stage for an investment forum that will be organised with the Directorate of Investment & Company Administration (DICA), later on. – Translated

(The Myanmar Times: https://www.mmtimes.com/news/kachin-seeks-diversify-away-mining-and-resources.html )

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