There is a huge opportunity for Vietnamese firms to invest in agriculture in their countries and export agricultural produce to other markets, Cambodian and Myanmarese officials have said.
Meach Yady, chief of agricultural marketing at the Cambodian Department of Planning and Statistics, said his country had invested a lot in agriculture but the sector had not developed commensurately.
He was speaking at a meeting held on Friday in HCM City to introduce the International Exhibition and Conference on Agriculture, Livestock, Aquaculture, Fisheries for Cambodia and Myanmar.
Cambodia imported large quantities of fisheries products, animal feed, fruits and vegetables, dairy and other agricultural products from Việt Nam, he said.
“There is great potential for investment in the agricultural and agri-business sectors. The Government is modernising logistics and infrastructure and streamlining the process to facilitate business processes.”
Vietnamese firms could invest in growing rice, cassava, maize, mung beans, vegetables, rubber, livestock and fisheries, he said.
Businesses could invest in expanding fragrant rice cultivation or rice milling targeting niche and specific markets and in the rice seed industry.
Besides, investment to produce quality inputs such as fertilisers and pesticides to increase productivity was also neccessary because farmers complained about the poor quality of imported inputs and possibly fraudulent labelling by unreliable suppliers, he added.
The cassava sector needed investment to make quality chips and pellets complying with international standards for export to China and Korea, while mung bean production had been hampered by the poor quality of seeds and therefore required investment in seed production.
He also called on Vietnamese firms to invest in vegetable production and processing as his country imported large volumes from Việt Nam.
Investment in harvesting equipment and post-harvest processes was required to reduce losses during harvest and transportation.
Many Vietnamese firms have invested in Cambodia, mostly in rubber, cassava and sugarcane, and his country wanted them to invest in more sectors, he said.
U Hnin Oo, vice president of the Myanmar Fishery Federation, said his country wanted to boost exports of fisheries, but few of its processing facilities met EU markets.
Since Việt Nam was strong in fisheries exports, his country wanted to co-operate with Vietnamese firms, he said.
Besides fisheries, livestock breeding also offered investment opportunities for Vietnamese investors, he added.
According to the Myanmar Livestock Federation, with a population of around 54.5 million and increasing income, Myanmar offers opportunities in livestock and animal feed production.
Investment in livestock production could be 100 per cent foreign invested or joint ventures with local individuals or relevant Government departments or organisations. — VNS
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International exhibitions
The exhibitions -- two of them, to be held from August 2 to 4 in the Cambodian capital of Phnom Penh and from September 27 to 29 in Yangon in Myanmar -- will offer Vietnamese firms a good opportunity to understand more about Cambodian and Myanmar’s markets and explore business and investment opportunities.
The events are expected to attract 80-100 exhibitors each and 2,500 trade visitors, according to Minh Vi Exhibition and Advertisement Services Co,Ltd, the organiser.
Ten Vietnamese firms took part in the expos last year and the number is expected to be higher this year.
In addition to showcasing the latest technologies and equipment, as well as agriculture, livestock and fisheries products, the biggest international agricultural exhibitions in Cambodia and Myanmar also feature business matching between suppliers and distributors and professional conferences and seminars to help participants understand the investment opportunities in the two markets.