Myanmar-Korea textile zone to create 60,000 jobs

A five-hundred acre textile factory zone, which will reportedly create 60,000 employment opportunities for Myanmar workers, is reportedly to come to fruition through the concerted efforts of Myanmar and Korean business groups. The Myanmar Olympus Asia Developer Group and the Korean PANKO Corporation will be responsible for implementing the project which will see the production […]

Mekong nations and South Korea eye up Myanmar’s investment potential

Yangon, July 1 – Mekong region countries, together with South Korea, have expressed an interest towards investment in Myanmar’s manufacturing sector, the Myanmar Investment Commission (MIC) has made it known. The fourth Mekong-ROK Business Forum recently took place at Yangon’s Novotel Hotel during which talks and negotiations were held between business entrepreneurs for the possibility of investment between Mekong […]

Jardine Lloyd Thompson opens local office

Jardine Lloyd Thompson officially opened its Myanmar representative office on September 12, joining a growing list of international insurers with local offices. Foreign insurers are generally barred from working inside the country, with the exception of three firms which received licences to operate in special economic zones earlier this year. Authorities have said they will […]

Foreign hotels to be completed by mid-year

Foreign hotel projects currently under construction will be inaugurated by mid year according to the Ministry of Hotels and Tourism. Most of the projects, including international hotel chains, are located in Yangon, according to Director General Aung Zaw Win. “Novotel Hotel will be opened in the mid year. Others such as Center Point and Shangrila […]

Hoteliers hope to get slice of expanding market in Myanmar

YANGON: Myanmar is in urgent need of more quality and affordable hotel rooms to meet its forecast of attracting over three million tourist arrivals in 2015 and 7.5 million international visitors by 2020. By the end of 2013, it is expecting to welcome two million visitors. By the first quarter of 2016, Sedona Hotel Yangon […]