December 21 2012

Myanmar Fisheries Federation official U Han Tun said during the weekly fisheries federation meeting on Tuesday, December 11 that the Vietnamese delegation discussed a possible venture with the Myanmar Shrimp Association. "They were very interested in prawn farming in Myanmar because it's a relatively undeveloped sector but one that they understand," he said.

"First they wanted to study the farming environment around Yangon Region and perhaps later they will cooperate with the association to farm prawn," he said.

U Htay Myint, chairman of the Myanmar Shrimp Association, said there are about 250 shrimp farms at Ngwe Saung in the Ayeyarwady region, with most about 1 acre in size. U Htay Myint owns several breeding ponds in Ngwe Saung and cold storage factories in Pathein townshipand said he would welcome foreign investment in his operation.

"If foreign companies want to cooperate with Myanmar businesses it will be good for us because we need some new technology and better management to improve our business," he added.

"It would be wonderful to work with Vietnamese businesses to develop our prawn farming industry. But we warned them during negotiations that they would have to partner with Myanmar companies because they cannot invest 100% in projects here according to the foreign investment law."