Animal Health Products
Myanmar livestock sector is inviting international investors to invest in manufacturing of veterinary products and farm equipment in Myanmar.
In 2018, members of Animal Health Products and Equipment Importers Association (AHPEIA) which is formed under Myanmar Livestock Federation (MLF), imported animal health products and equipment for 132.38 million USD, 41.18 million Euro, 0.4 million SGD and 0.94 million THB.
Investment in manufacturing veterinary products will support supplying quality animal health products and farm equipment which meet international standards and accessible at all time with affordable and reliable price.
Salient Points on Foreign Investment
Myanmar is committed to provide a secure, accessible and conducive environment for both foreign and Myanmar citizen investors.
The Myanmar Investment Law, enacted in 2016, vastly simplified the process for investment applications and offers a number of tax breaks, incentives, guarantees, rights and protections for business ventures.
The law recognized livestock production as a promoted sector although it does not allow foreign investors for establishment of quarantine station for export and import of animals and pet care services.
The law provide;
- 5 years tax exemption
- Exemption from income tax on profile of business (provided reinvestment within 1 year)
- Exemption of relief from customs duty on agricultural machineries, instruments, machinery components spare parts and materials used in the business
- Exemption from duties on imported raw materials for the first year