Myanmar has taken its first major steps towards developing a sustainable aquaculture industry. In February, The Department of Fisheries under the Ministry of Agriculture, Livestock and Irrigation (MoALI) launched the Myanmar Sustainable Aquaculture Programme (MYSAP) with €22.5 million (K36.7 billion) in funding from the European Union and the German Government. This has resulted in a plethora of opportunities for companies with businesses in the aquaculture industry.
The MYSAP Programme will focus on developing Myanmar’s aquaculture business in inland fish-deficient states, as well as the coastal states of Ayeyarwady and the state with the highest potential for aquaculture, Rakhine. One of the most vital sectors of Myanmar’s economy, the fisheries sector contributes towards meeting the dietary needs of the locals as well as the nation’s food security.
In order to meet the long term objectives of expanding the sector, in line with the drafting of a National Aquaculture Development Plan (NADP), the demands of the sector need to be fulfilled such as access to capital and cold storage facilities to ease cross border exports.