South Korean executives have signed a memorandum of understanding (MoU) with the Union of Myanmar Federation of Chambers of Commerce and Industry to invest in construction and other business sectors in partnership with Myanmar entrepreneurs, executives said.
A 30-member delegation from the Korea Chamber of Commerce and Industry that visited Myanmar this week is very keen on construction, garments, stationary imports, restaurants, printing presses as well as manufacturing of its electronic devices, car imports and medicine manufacturing, executives said.
“Myanmar is rich in natural resources. A bilateral agreement between Korea and Myanmar will support more business,” said Choi Jae-young, president of the Seoul Chamber of Commerce and Industry, adding that the delegation consisted of executives from mid and small-sized trading firms.
The MoU will aid the exchange information between Myanmar and Korean businesses and promote bilateral trade and investment, which will spark more economic growth, Choi said.
UMFCCI member Dr Myo Thet said it would promote free trade and increase foreign investment in Myanmar.
Source: ELEVEN MYANMAR