CNI News
20 September 2023
If Russian business people come and invest in the Myanmar agricultural industries, they should invest in corn, wheat and sunflower, said Ko Zaw Min Naing, an agricultural and economic advisor, to CNI News.
The Union Minister for Transportation and Telecommunication invited Russian investors to invest in the agricultural industries and if Russian investors entered, They should invest in the agricultural industries whose products could be exported, said Ko Zaw Min Naing.
" According to the market position, I think they should invest in corn cultivation industry because the corn market is quite stable in comparison with other cultivation industries during the past three years. The corn is in demand. Moreover, China is providing General Administration of Customs China (GACC) registration for corn. So, if they invest in corn, they can make a profit, I think." said Ko Zaw Min Naing.
A corn grower
Besides, as Russia-Ukraine War might take long, Russian investors should also invest in wheat and sunflower that are needed, he added.
" Another thing is that as Russia-Ukraine War might take long, the demand for wheat may also increase. this is considered for export only. There are places where wheat can be grown in Myanmar. And the next one is sunflower. Ukraine produces wheat and sunflower. Because they are at war, these crops are scarce there. So, if they come to Myanmar and invest in these crops for some time, it will be convenient, I think." he said.
He hoped that agricultural products and foodstuff produced in Myanmar would be able to be exported to Asia and Europe, said General Mya Tun Oo, Deputy Prime Minister and Minister for Transportation and Telecommunication, and member of the State Administration Council, at the 8th Eastern Economic Forum 2023 held in Russia.
A sunflower plantation
It is said that because the Myanmar agricultural sector is weak in not only technology but also machine tools, if the Russian side invests in agriculture and supports the technologies, it will be better.
" We have changed from manual farming to mechanized farming for long. But in some places, manual farming system is still being used. We still don't know which part they want to invest in, vegetables or crops. They can produce agricultural products with less people. If they come here with heavy machines, I hope there will be a lot of progress in the agricultural sector," said U Thet Zaw, an economic analyst.
In the Myanmar agricultural sector, tractors, harvester and thresher machines are needed and if the investors took the seeds that are consistent with Myanmar agricultural areas, it would be more convenient, said agricultural experts and businessmen.
Moreover, if the investors took the agricultural technologies, for example if a crop which is needed normally to grow for six months can be grown in four months, production can be conducted twice a year and if more agricultural products can be exported, the country's economy also will rise, they said.
