According to a press release from the Myanmar Investment Commission a permit has been issued to UK based Global Agricultural Joint Venture Co Ltd. for the establishment of teak plantations.

The investment is said to amount to USS115 million. The area allocated for plantation development is in the vicinity of Bago Yoma, a range of low mountains and uplands between the Irrawaddy and the Sittaung River in central Myanmar.

Commercial logging of the natural forest was suspended in this area for ten years starting from 2016-17. This investment is said to be in line with the policy of government to ensure adequate forest resources and expanded forest cover.