An agrochemical factory has been put into service in Hmawby, northern outskirts of Yangon in Myanmar, Myanmar News Agency reported Monday.<\/p>\n
The factory, the first of its kind lying on a plot of 87.4 hectares near Wanetchaung village, was opened in the presence of Second Vice President U Henry Van Thio on Sunday.<\/p>\n
Jointly established by Myanmar Awha Group Company Ltd. and the International Financial Corporation (IFC), which is a member of the World Bank, the 35-million-U.S.-dollar agrochemical factory will produce over 200 types of high quality agrochemicals including pesticide, fungicide, herbicide and phytohormone with the use of advanced technology.<\/p>\n
Minister of Agriculture, Livestock and Irrigation Aung Thu underlined the good prospects for investment opportunities in the agricultural sector.<\/p>\n
The aims of the factory also include manufacturing of agricultural implements, import substitution and situation-based manufacturing process, the report said.<\/p>\n
Meanwhile, Myanmar’s Yangon regional government has planned to implement 22 agricultural development projects under government-private partnership to bring about rapid development in the sector.<\/p>\n
The project is expected to create more than 6,000 job opportunities for local people and the export of agricultural produce is mainly carried out through the Yangon market.<\/p>\n
The regional government has also drafted a master plan 2018-2021 in cooperation with the Union of Myanmar Federation of Chambers of Commerce and Industry for the development agricultural sector.<\/p>\n
According to official figures, the export of Myanmar’s main agricultural product of rice in the fiscal year 2017-18 which ended in March was more than 3 million tons, the highest number in over 70 years.<\/p>\n
During the period, the country’s agricultural product export hit 2.4 billion U.S. dollars, accounting for 25 percent of the total exports. <\/p>\n
Source:Xinhua News<\/p>\n","protected":false},"excerpt":{"rendered":"