Foreign investment of 3.5 million dollars has been invested in Myanmar's agriculture sector in the eight months of the 2022-2023 FY, according to the Directorate of Investment and Company Administration (DICA).
As of the end of the 2020-2021 FY, the inflow of foreign investment into Myanmar's agriculture sector is less than one percent of the total foreign investment, according to the statistics released by the DICA.
"Among the investment sectors in Myanmar, the inflow of foreign investment in agriculture development sector and fishery sector is less than 2 percent of the total investment per year according to the statistics of our department. Therefore, by looking for ways to bring about long-term development of the country's important sector, the agriculture and breeding sector, it will be better for those sectors," said Director General U Thant Sin Lwin.
By looking at the annual investment in Myanmar's agriculture sector, the foreign investment in the six months from April to September 2018 was only US$ 10.650 million.
In the 2017-2018 FY, US$ 134.485 million was invested in the agricultural sector, but in the 2016-2017 FY, there was no investment in the agricultural sector.
The foreign investments in each fiscal year are as per following: over US$ 7.1 million in 2015-2016 FY, over US$ 39.66 million in 2014-2015 FY, over US$ 20.2 million in 2013-2014 FY, over US$ 9.6 million in 2012-2013 FY. In the 2011-2012 FY, there was no foreign investment.
From the 1988-1989 FY to the end of September 2018, total foreign investment of more than US$ 77.7 billion entered into Myanmar, and in the agricultural sector, foreign investment reached more than US$ 395 million, which was only 0.51 percent of the total amount of foreign investment.
"Myanmar is an agriculture-based country, so we all know that there is an urgent need to improve agricultural productivity and quality in order to achieve a proper agriculture-based economic system," Director General U Thant Sin Lwin said.
So far, only US$ 441.838 million of foreign investment has entered Myanmar's agriculture sector. It is known that US$ 926.218 million entered in the livestock and fisheries sector.
An opportunity to learn about investment opportunities in Myanmar's agriculture and livestock sector, the Agriculture and Livestock Investment Dialogue was held on January 28, 2021 under the leadership of the DICA.
There are two main purposes of holding the discussion. It is necessary to identify and find solutions to promote investments in Myanmar's agriculture and livestock sectors and to address the challenges related to this sector from the government and various private perspectives, said U Thant Sin Lwin.
