Asia Business Channel

Vietnamese companies should invest in Cambodia and Myanmar

Cambodia and Myanmar have made a successful switch from centrally planned economies to market-oriented economies, and their productivity has increased significantly while labor costs remain competitive and both countries offer huge investment opportunities in the agricultural sector for Vietnamese firms.

Meach Yady, from Cambodia’s Department of Planning and Statistics, said at a recent seminar in HCMC that agriculture accounts for 25% of his country’s GDP and that the government has adopted policies to encourage businesses from Vietnam and other countries in the Mekong / ASEAN region to invest in its agriculture sector.

According to Yady, Cambodia is a promising market for Vietnamese firms, who can invest in growing and processing fruits and vegetables; animal feed production; dairy farming and fisheries.

Dr. Myint Thein, chairman of the Myanmar Veterinary Association said that in addition to investing in growing and processing key items like rice, wheat, maize, oil seeds, fruits and vegetables, Vietnamese firms also can invest in production of agricultural machinery and supply post-harvest preservation and processing technologies in Myanmar.

Dr. Myint Thein said that Myanmar has studied Vietnam’s achievements and growth in the agricultural sector, especially its exports of processed and fisheries products, and wants to co-operate in these areas.

Many Vietnamese firms have invested in the two countries in various sectors, including agriculture. According to Dr. Myint Thein: “Myanmar and Cambodia expect more investments from Vietnamese businesses in the agricultural sector in the near future.”

To help Vietnamese firms understand more about the Cambodian and Myanmar’s markets and explore business and investment opportunities there, several international exhibitions on agriculture and fisheries are being organized.

A conference related to Agri-Livestock and Aqua-Fisheries will be held in Phnom Penh from September 5 to 7 and in Yangoon from September 26 to 28. The conference is expected to cover business opportunities for Vietnamese companies in each market; investment and legal regulations as well as equipment and technologies related to the agriculture and fisheries industries.

Read 106