Agriculture-related firms from Vietnam , Japan and the Republic of Korea are planning to pour investment in Myanmar , a rice exporter in Southeast Asia , according to new reports.
VinaCapital from Vietnam and Mitsui from Japan have respectively signed memorandums of understanding (MoU) with Myanmar Agribusiness Public Corporation (MAPC) on cooperation in agricultural development.
Under the MoU, combined factories for food processing and energy generation as well as rice grinding and purifying mills will be set up in Yangon, Ayeyawady, Bago regions and the capital city Nay Phi Taw.
Foreign investors have injected 182.75 million USD into nine agricultural projects in Myanmar since December, 2012.
Meanwhile, Myanmar has exceeded its 2012-2013 fiscal year target to export 1.5 million tonnes of rice by about 600,000 tonnes, the Myanmar Rice Industry Association was quoted as saying.
The country, for the first time, is expected to export 5,000 tonnes of rice to Japan in May, the association said.