The Myanmar Agribusiness Public Corporation will start working on establishing agri-industrial parks while Rakhine state will soon have two economic zones
MAPCO puts $12m in agri industrial park
The Myanmar Agribusiness Public Corporation (MAPCO) which will soon will listed on the Yangon Stock Exchange, has invested $12 million for the setting up of agricultural industrial parks in the country’s Delta Region, the Myanmar Times reported.
One park is located in in Myaungmya township, equipped with basic infrastructures, jetty, electricity supply and roads.
“The intention is to support and revitalise agribusiness activities and to promote domestic production of value-added products,” said Ye Min Aung, managing director of MAPCO.
For small and medium-scale agri-industrial parks, they have received some proposals from foreign investors from Japan, Thailand, China and Taiwan.
Rakhine State to set up SEZs
Rakhine state will see the development of two economic zones.
The Kyauk Phyu Special Economic Zone (SEZ) Public Company that has committed and won the tender to operate the Ponnar Kyun economic zone in Rakhine State will soon start working on the project.
In Rakhine, a special economic zone named Kyauk Phyu SEZ is also in the process of being set up. A local entity is yet to be selected among 25 companies that applied to the Kyauk Phyu SEZ management committee. Post selection, the local company will jointly work with CITIC, Beijing headquartered investment company, on the project.