You can read daily news of Global New Light of Myanmar using mobile applications. Download now!

April 02, 2020

Livestock farming business worth less than $5 million won’t need ministry’s approval

A farmer feeds layers at a farm in central Myanmar.  Photo: Aye Min Soe

Only commercial livestock farming businesses with an investment capital of more than US$5 million or Ks6 billion need to obtain the approval of the Ministry of Agriculture, Livestock and Irrigation under section 100 (b) of the Myanmar Investment Law, according to a recent notification of the Myanmar Investment Commission (MIC). MIC had given the green light to only those commercial livestock farming and offshore fishing enterprises where businessmen could present the approval of the Agriculture, Livestock and Irrigation Ministry.
This relief aims to cut down the work permit processing time of livestock businesses.
Livestock farming is mostly practised in the Magway and Ayeyawady regions. The Commerce Ministry gave its nod to the export of live cattle on 9 October 2017 to combat illegal cattle exports.
The livestock and fisheries sector saw foreign direct investments worth $23 million this year.

 

Ko Khant

Comments

Related posts