Mawlamyine, 11 November
Senior General Min Aung Hlaing urged officials to produce high-quality rubber products locally in order to reduce the demand for dollars.
The Junta chief put pressure on entrepreneurs and officials at the Myanmar Rubber Forum-2023 in Nay Pyi Taw on November 9 in order to develop the rubber sector.
He said that rubber products such as bicycle, car, and motorcycle tires and inner tubes worth nearly 65 million US dollars are imported from abroad every year, and it is necessary to produce high-end products locally.
According to the military leader, if rubber items are produced locally, a domestic rubber market and job opportunities will be created, and foreign currency spending will be reduced.
However, a rubber entrepreneur said that it is still not possible due to the need for infrastructure, electricity shortages, and difficulties in importing chemicals.
In addition, he added that policy adjustments and investment are still needed to produce finished rubber products.
According to rubber entrepreneurs, it is not possible to produce high-quality rubber products domestically because there are so many things to prepare for sales in the market and the need to meet international standards.
According to the military chief, because rubber is an important industrial crop for earning foreign currency, it should be a priority export for increasing foreign exports, beginning with rubber cultivation and ending with the production of rubber sheets and finished products.
In Myanmar, there are 1.64 million acres of rubber plantations in nine regions and states, of which nearly one million acres produce rubber latex, producing more than 300,000 tons of rubber sheets annually, according to data from the junta-run Department of Agriculture.
More than 20,000 tons of rubber are used in the United States, and nearly 300,000 tons are exported and sold to other countries; the rubber industry earns between $250 and 450 million per year.
News-Than Lwin Times