No approvals required for commercial livestock farming investments below $5M
A dairy farm in Nay Pyi Taw. Investments in commercial livestock faming of under $5 million will no longer require approval.
Photo – EPA
Only capital investments in commercial livestock farming exceeding $5 million or K6 billion will require approval from the Ministry of Agriculture, Livestock and Irrigation, according to the Myanmar Investment Commission on Wednesday.
Investments in commercial livestock farming below $5 million will no longer require government approval.
Investments in livestock and fisheries, which include those in commercial livestock farming, have been on the MIC’s list of 18 restricted investment activities since April 10, 2017. As such, all investments in the sector required prior approval from the relevant ministries in the past.
The government later moved to allow investments in the sector of up to $5 million to be approved directly by state and regional investment committees. Now, no approval will be required.
As at January 2018 of the current fiscal year, foreign investments in the livestock and fisheries sector totaled $23 million, according to data and statistics by the Directorate of Investment and Company Administration.