Free Knowledge... From People... To People
Search by Date Myanmar Version Mobile Version
Updated on June 21, 2018 From mitv


Myanmar and Korea join forces to scale up their business ties in investment and trading.
        The 12 Korean companies especially from manufacturing sector, led by the Secretary General of the ASEAN-Korea Centre visit Myanmar for two days not only to seek business opportunity but also to improve win-win partnership between the two countries.
        According to the MIC, Korea stands sixth on the list of foreign investor countries with over 3.8 Billion US$ investment, especially in oil and gas and manufacturing industry.
        The Korean business delegation visited the Thilawa SEZ on Tuesday, and learned about the industry. The Secretary-General shared their impression, challenges but stressed Myanmar is the potential destination that they look for.
        Secretary General, ASEAN-Korea Centre, Lee Hyuk said "... Actually, Korean companies have been looking for a very attractive investment destination which might replace China and even Vietnam... I think a lot of Korean companies who have already invested in Vietnam market are actually looking to a possible investment destination which might replace Vietnam....We are quite impress with the Thilawa Special Economic Zone. I got the impression that this is very well plant economic zone...”
        DICA also shared their promotion plans and process to promote investment and trading.
        Deputy Director General, Directorate of Investment and Company Administration, Than Aung Kyaw said “We’ve been inviting lots of foreign investment to Myanmar. We know that the lacks of skills labour in the market are one of the main challenges for Myanmar. Through this seminar, we will present Myanmar investment law, rules, investment opportunities, incentives as well as current conditions of manufacturing sector, wholesale and retail market.”
        Most of the Korean investment goes to oil and gas and manufacturing industries.
        The secretary General highlighted the awareness raising for the recent policy changes.
        Secretary General, ASEAN-Korea Centre, Lee Hyuk said "... I learnt that the Myanmar government recently enacted the new investment law and new companies law... The Korean companies are not fully aware of the changing system... I think we need to publicize the new law... ASEAN-Korean Center, itself and the Myanmar government also need to promote… I think we need a break through if we are to really, substantially increase our trade volume... I think the one way is... to make the big Korean companies invest here... Myanmar should understand that you are competing with other countries... "
        According to the official statistics, there are over 600 Korean companies that registered in Myanmar.
        Along with the Myanmar-Korea Investment Promotion Seminar, one on one business matching between businesses of Myanmar and Korea will follow on Wednesday.

View Count : 253 | Posted by

~ Latest News ~

Ministry of Electricity and Energy Signs 10th Shweli River-1 PPA Agreement
Myanmar agrees with China on Thavanyu Pagoda renovation
Yangon General Post Office celebrates its 110th anniversary
Cattle die in Minpya Township from unknown disease
Some portions of Dawei-Htikhi road damage again
Monitoring starts as some areas see seasonal H1N1 outbreaks
Miss Universe Sagaing 2017 Yun Sett Paing died of car accident
EIA raises concerns over logging deal in Kayah
Gunman Kyi Lin says mastermind in advocate’s murder is Myint Swe
Three reported dead from dengue fever in Mandalay
Shan minister race kicks off in Mandalay
Nantha Taung village burnt by ARSA will built again
Thinbawkway villagers request military chief, CM for land relocation
Over 5,000 tons of illegal timber seized in Sagaing within five months
Muse mine blast leaves one dead
Locals worry over LNG project survey in Kan Pauk Region
YCDC to increase waste collection tax to build waste to energy plant: Mayor
Villagers flee after embankment of Bwatgyi dam lowers
Ygn government strives to build earthquake-resistant schools
Paper lanterns in good demand for festival of lights
Two men in Kengtung sentenced to death for rape and murder of high school student
MR to resume suspended services after test-run
Techilek rain causes temporary closure of border markets
Russian ‘Facebook’ bans Myanmar army chief, hard-line monk
Toddler killed in mudslide at Thai refugee camp
Myanmar jailbreakers could be heading to Thailand
Aviation fuel station opens at Kyaukphyu airport
Pu Ywin workers protest in Dagon Port Industrial Zone continue
Vendors prohibited from hawking in Taunggyi Hot Air Balloon Festival
Rakhine State gets 30 cyclone shelters this year
Three out of 41 jail breakers from Hpa-an prison caught
Dozens rally for jailed Reuters reporters in Myanmar
Agri department to provide cash assistance to flood-hit farmers in Magway
White foams from wastewater not harmful to public: MCDC
Aviation fuel station opens at Kyaukphyu airport
Pu Ywin workers protest in Dagon Port Industrial Zone continue
Mandalay uses ‘Operation Hawk’ to tackle growing crime wave
Ygn to grow more mangrove saplings
“I would get out of Rakhine politics if my son did not win a seat in by-election”: Dr Aye Maung
Over 200 students demand justice over killing of Kyaukse GTI student
More News