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February 28, 2018

Government subsidies help enhance livestock sector

Workers sort fish at a cold storage factory in Yangon. Photo: GNLM/Phoe Khwar

As a result of the medium-term loan plan provided by the government at a low interest rate, the livestock sector this year is likely to improve, U Win Kyaing, secretary of Myanmar Fishery Federation, told Myawady Daily.
“We cannot make profits without investment. Small investments might slow the development of businesses. The government provided Ks700 billion for the loan plan,” he said.
The government announced it will provide a loan of some Ks700 billion under the medium-term plan at a low interest rate to the agriculture, livestock and small and medium enterprise sectors.
Foreigners are not allowed to invest 100 per cent in Myanmar’s livestock sector.
Three livestock zones are planned to be set up in the Yangon Region. These zones will include cold storages and advanced packaging machines for the fisheries, according to a report in the Myawady Daily yesterday.
The current fiscal year witnessed foreign direct investments worth $16.7 million in the livestock and fisheries sector, according to the statistics provided by the Directorate of Investment and Company Administration.

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