Malaysia to build palm oil factories in MyanmarStaff writer ▼ | July 2, 2013
Dato Seri Douglas, Minister of Plantation Industry and Commodities said that Malaysian companies are working on plans to invest in the construction of palm oil factories in Myanmar.
"Myanmar companies will also cooperate with Malaysian companies in order to attain technical know-how. Malaysia government has planned to extend its market in Myanmar and also for exporting. Malaysia has great ambition concerning this matter as Malaysia palm oil has much demand in Myanmar. Businessmen from Myanmar and Malaysia are jointly planning to manufacture palm oil," said the Minister.
In 2012, Malaysia exported a total of 345,000 tons of palm oil and its related products to Myanmar, added the minister.
At the same time, Malaysia's palm oil exports to Vietnam stood at about 147,000 tonnes from January to April this year, an increase of 64 per cent over the same period of last year, Plantation Industries and Commodities Minister Datuk Seri Douglas Uggah Embas said.
He added that "Malaysian and Vietnamese oils and fats players are encouraged to embark on collaborative initiatives to further enhance trade relationships in the commodity. This is, so as to meet, the increasingly sophisticated demands of Vietnamese consumers."
The palm oil sector is one the key industries.Malaysia accounted for 35.2 percent of the world's total palm oil production. ■