Marine export earnings hit nearly $ 200 million in over four-month period

Writer: 
Zeyar Nyein

 

From April 1 to August 3, Myanmar has earned over US$ 198 million from exports of marine products, up over US$ 20 million compared with the same period last year, according to the Commerce Ministry.

On March 7, Htay Myint, President of Myanmar Fishery Federation called on the government to provide entrepreneurs with fish and prawn strains, land space and loans in order to hit a goal of earning up to US$ three billion from exports of fish and prawn during the coming two years, at the 15th regular meeting between the Private Sector Development Committee led by the Vice-President-1 and local entrepreneurs.

Under this plan, entrepreneurs will have to contribute 50 per cent as Small and Medium-sized Enterprises (SMEs) loan, the government, 25 per cent and foreign investors, 25 per cent.

Myanmar’s marine export volume is relatively low, compared with those in neighbouring countries.

Myanmar needs to pay more attention to fish breeding rather than natural fishing and upgrade the fish breeding system in order to increase export volume.