Wednesday 26 December 2012

High land prices obstacles to foreign investment

Two Japanese and Thai companies are interested in setting up fishing net factory in Myanmar but find the high land prices as a major obstacle, said a top official of Myanmar Fisheries Federation.

Delegations of Missouri Fishing Company of Japan and Thai Fishing Net Industry Company Ltd expressed their interest during a discussion with local officials at Myanmar Fisheries Federation office on December 18.


“The Thai and Japanese companies are interested to set up joint venture fishing net factory considering the cheap labour here,” said Han Tun, an executive vice-chairperson of Myanmar Fisheries Federation.

The discussion is taken place only and no deal has been signed yet as the companies find land price of land too high, he added.

Labour cost in Myanmar is low in comparison with its neighbouring countries.
 
source: Eleven Myanmar

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