Myeik Fish Auction Market to be Operational Early Next Year
Eleven Myanmar

Transaction activities in Myanmar international fish auction market in Myeik will start early next year, said its Managing Director Htay Htay Win.

The market is still under renovation despite its opening ceremony being held on December 10. The fish auction market actually existed about 18 years ago. It was then reopened with the approval from Myanmar Investment Commission (MIC) with a total of US$10 million investment into the market.

“I expected it will start running in January next year. We have already made contact with buyers and sellers. International buyers will come to buy. The machines used for cold storage have arrived here. I don’t want to talk about the delay which makes the foreign investment flowing into the project slower. We will help the fishermen to connect with international buyers,” she said.

The market is jointly ventured of 60 per cent foreign investment, 30 per cent from Fishery Department and 10 per cent from a local businessman.

“I am amazed at the government’s involvement in the project is small as it is a joint-venture project between government and private sector. The project was delayed too. It can bring tax revenues for the country and create job opportunities for the locals but the government is delaying to allow the transfer of more foreign investments. We already made contact with international buyers to buy fishery products from local fishermen. It will be running soon,” said its chairman Jean Pechon.

The foreign company is waiting to transfer US$60 million and the first installment of US$20 million is delayed at the office of Ministry of Livestock and Fishery. The market is currently doing check point for the entry and exit of fishing boats and fishery products are still sent to Thailand as the auction market is not started yet. It is not known about the increase of the fishery products in a fiscal year and the kind of fish which are decreased. If the auction market is run, it can be solved the above mentioned issues and the government will have more taxes, said locals.