7 February
INVESTORS from the UK, China, Thailand, and Japan have expressed interest in a project to set up a factory for processing elephant foot yam in Chin State, with an estimated capital of US$1 million, according to the Myanmar Fruit, Flower, and Vegetable Producer and Exporter Association (MFVP).
The association had invited investments for the elephant foot yam drying factory at the Invest Myanmar Summit 2019 held at MICC-II in Nay Pyi Taw on 28 January.
“Two or three corporates have shown interest in the project. We have started exploring the project area. We have received approval from the Chin State government and they are committed to providing electricity infrastructure. The construction of the factory is slated to end in September and it is likely to begin operations in November,” said U Kyaw Thu, the secretary of the MFVP.
Matters pertaining to the construction of the factory will be discussed further at the Chin State Investment Forum, which will be held in Yangon in March.
Elephant foot yam is the main product of Chin State. The Kanpetlet, Mindat, and Matupi townships produce about 1 million viss (a viss equal to 1.6 kg) of elephant food yam. Northern Chin State also cultivate elephant foot yam.
“The cost of the factory building is estimated to be $1 million. We are not at liberty to reveal the details before discussions are complete. The project will be implemented with the participation of private companies and growers. MFVP is just organizing the project. It is likely to team up with entities from the UK,” said U Kyaw Thu.
Myanmar’s elephant foot yam is primarily purchased by China, Japan, and the Republic of Korea. Once the drying mill is established, dried elephant foot yam produced at the factory will be shipped to those countries.
Elephant foot yam can be planted across the country. In addition to Chin State, it is produced in Kayin, Mon, and Shan states, and Taninthayi and Bago regions.
There are seven elephant foot yam drying factories in Myanmar, with three factories in Mandalay, one in Mon State, one in Myawady Township, and two in Ye Township. Investments will be invited for other products of Chin State such as avocado, coffee seeds, and tea leaves.— By Aye Yamone
(Translated by Ei Myat Mon)
