19 June 2019
MYANMAR: Overseas Businesses Approved to Enter Food Export Sector
Overseas investors in the country can now open wholly foreign-owned companies or form joint ventures with local companies for the purpose of exporting goods across seven product categories - rice (including value-added rice and broken rice); other agricultural items (including beans, pulses, corn and processed and semi-processed fruits); meat and fish; paper and paper pulp; seeds; purified metals; and wood-based furniture. In order to identify approved local producers and suppliers, overseas-owned businesses may seek recommendations from the relevant ministries.
While a number of local businesses have expressed concern that this may lead to increased competition, the government expects the entry of foreign investors will help boost overseas demand for Myanmar’s agricultural exports, It is also hoped that this, in turn, will increase the income of the country’s farm producers while helping them improve the quality of their exports.