Agricultural sector is the top priority as it is the source of 70 percent of the country’s livelihood

The prevalence of natural disasters, the lack of sufficient reaction plans, and defi­cient infrastructure are major barriers to foreign investment in the agricul­ture sector, Dr. Soe Tun, Vice Chairman of Myan­mar Rice Federation, said.

In the agricultural sec­tor, both foreign and lo­cal investment are lower than 1 percent of total investment because the industry offers investors little stability and guaran­tee from adverse weather, insects and no access to supportive infrastructure such as milling facilities, electricity, and infrastruc­ture, Dr. Soe Tun said.

This year, the majority of foreign direct invest­ment (FDI) went to the oil and gas sector, repre­senting 30 percent of total FDI while the agriculture sector received about 0.51 percent.

State Counsellor Daw Aung San Su Kyi said in an interview with Nikkei Asian Review that the ag­riculture sector is coun­try’s top priority as it is the source of 70 percent of country’s liveliehood.

At a meeting led by Vice President No-1 U Myint Swe and other industry leaders, U Kyaw Win, Union Minister for Plan­ning and Finance said, “If the sector needs more financial assistance, for shifting into mechanized farming, the government will apply for loans from overseas.”

In an effort to spur pri­vate sector involvement in the agricultural sector, the Ministry of Planning and Finance created in­vestment proposals for lo­cal farms to supply them with modern machinery, U Kyaw Win said.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/agriculture-reform-top-priority )

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