New Hope Singapore invests US$10mil in Bago poultry farming

April 5, 2017

Singapore based New Hope Singapore Co., Ltd is preparing for poultry farming in Bago Region, putting an initial investment of US$10 million into hatchery and breeder farms, according to Dealstreetasia.

The company will mainly focus on hatchery and meat production, which is backed by China’s agribusiness New Hope Group, which works on production of animal feed, breeding, meat products and financial investment.

Myanmar New Hope Agrotechnique Co Ltd, a joint venture already established in Myanmar in the past five years, produces animal feedstuff and meat production, with a capacity of about 100,000 tonnes of feed per month.

Gou Huayin, executive director of Myanmar New Hope Agrotechnique Co, said that the phase 1 project of the poultry sector is focused on the southern part of Myanmar and that phase 2 will target Mandalay, covering the northern part of Myanmar.

The company is making long-term investments in poultry farming, providing a one-stop solution to the market’s demand. Agriculture and livestock play a crucial role in implementation of the country’s development activities, experts said.

Singapore ranked in second place in the lineup of the largest foreign investment countries in Myanmar, according to the statistics of the Directorate of Investment and Company Administration.

Ref; The Global New Light  of Myanmar