The Myanmar processed food industry needs more investment support in order to develop further, U Aye Win, chair of the Myanmar Food Processors and Exporters Association, told The Myanmar Times.
Currently, Myanmar processes basic raw commodities such as rice, beans, maize and other agricultural products. Excess products are exported. However, the country also imports value-added processed foods such as canned or dairy products. In that light, Myanmar should increase its focus on manufacturing higher value food products, which will require funds from both local and foreign investors, U Aye Win said.
Importantly, as the region moves closer towards implementing the ASEAN Economic Community, which envisions a single market and production base for Southeast Asia, micro, small and medium enterprises (MSME) in the Myanmar food industry will need investor support to compete, said U Zarni Maung Maung, managing director of REPASSA Myanmar.
