Foreign and local investments to be invited for increasing use of agricultural machinery
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NP News - July 11
Agricultural types of machinery are required to use in widespread due to the scarcity of farming labours and climate change so as to produce crops on time, the Union Minister of Livestock and Irrigation Tin Htut Oo said.
The Union Minister made this remark during his visit to Myanmar Agricultural Equipment Factory (Ingone) located in Kyaukse, Mandalay.
“Our ministry is encouraging local and foreign investments to meet those requirements,” said the Union Minister urging private businessmen to make efforts to make high-quality agricultural equipment accessible to farmers.
As of May 2022, FDI and the national investments in the agricultural sector have amounted to USD 446.881m and 69.473m respectively.
The Ministry of Planning and Finance granted loans up to 70m MMK to the farmers for developing agro-based industries and agricultural equipment. As of February 2022, a total of 5576 farmers from 187 townships received 229.979b MMK loans from the government.
Vocational training graduates and high school graduates who attend the Agricultural Machinery Training Courses are expected to attain internationally accredited certificates. Qualified trainees are expected to join government technical science and undergrad courses.
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