Due to the decrease in the demand of freshwater fisheries sector as there is no export amidst the COVID-19 pandemic, the aquaculture sector hit hard those who depending on the sector for their livelihood.
With zero exports without no new orders from buyer countries, fish exports have collapsed. The drop in demand has affected from daily-waged workers to cold storage facilities in the seafood supply chain. In this situation, national-level plans and projects need to be implemented to ensure future success in the sector. Or, the aquaculture sector could face longer disruption if farmers are unable to restock in this COVID-19 crisis.
When it comes to responding the COVID-19 and businesses, we also need to consider how to minimize the impact of COVID on the fisheries and prawn breeding and how to make these enterprises grow in the long term. In a country, laws and rules are not created in a fixed and rigid manner, but should be changed to meet the needs of the country. If we seek to make changes, all points of view need to be considered. The fishery sector occupies an important place in our country’s economy and culture. The EU and North America account for about 45 percent of Myanmar’s aquaculture and fisheries exports – which were forecast to be worth $750 million in 2020 – while China and Thailand account for the remaining 55 percent.
Myanmar earned US$728 million from the export of aquatic product in 2019-2020 fiscal year, and the figure has increased by $100 million in the first nine months of this FY, compared to the corresponding period of the previous term, and that the country has a lot of potentials to earn billions of dollar from fisheries export. To put our fishery sector on the right path to recovery in a short period, we need to attract foreign investment which can also offer modern technology. For foreign investments to come in, we need to show first that we have the potential to develop from all sides. Everyone are obliged to cooperate to gain business confidence and to create a good environment for business.
GNLM
