Fishery Industry: SME Loan Will Be Given To Marine Product Factories

Myanmar fishery products have been exported more in compared with the same period of last year.

At the same time, SME loan will be given to the loan applied factories to operate with regular export procedure and export through border trade, according to the Department of Fisheries.

Director, Department of Fisheries, Aung Kyi Toe said “Government is implementing to give loan for the factories to operate the tasks in post Covid-19 period. Among 124 fishery factories across the country, only 16 factories have been applied loan and the government will select in line with SME procedures. The fishing is prohibited in June, July and August in Myanmar. So, fishing vessels are stopped in this season and safety fishermen classes will be given at that time.

During Covid period, over 500,000 tons of fishery products were exported as oversea export from October 2019 to till present and over 651 million income were already received, according to the Department of Fisheries.

Director, Department of Fisheries, Aung Kyi Toe said “By comparing to the same period of last year, we could export over 60,000 tons of fishery products more and received more over 93 million income from this industry. We have two export trades of fishery products. First is ordinary export with vessels or plane tracks and second is border trade for exporting.”

In Myanmar, there are 124 fishery product factories and from there, the most is 79 in Yangon Region and the second is 20 in Thaninthayi Region. The fishery products from those factories are exporting to about 40 countries including China, Korea, Japan and EU countries.