Local Daewoo bus production for export

Myanmar Trade Center Co will roll out locally manufactured Daewoo minibuses from its Htauk Kyant factory in Yangon by the end of this year, said the firm’s executive director U Kyaw Kyaw Aung, in a bid to help improve transport efficiency and ease congestion. U Kyaw Kyaw Aung added by 2018 the company will be […]

POSCO Daewoo launches agribusiness in Myanmar

POSCO Daewoo is launching an agribusiness venture in Myanmar as the company’s future growth engine. According to a POSCO Daewoo official, Sunday, Korea’s largest trading affiliate under POSCO group has secured construction and investment approval from the Myanmar government to build a rice processing complex (RPC) in Twante, the most accessible delta town from Yangon […]

Local firm plans Daewoo bus factory in Yangon

Myanmar Coach Centre, the local distributor for Daewoo buses, plans to build a factory in Yangon that could start producing coaches and city buses by 2018, its managing director said. The company, which sells minibuses and coaches for tours, imported 15 Daewoo city buses earlier this year for Yangon’s Bus Rapid Transport (BRT) system, the […]

Energy dilemma

Myanmar needs oil and gas revenue to spur its economy and new discoveries to feed its growing energy appetite, but low oil prices could bring cutbacks in exploration. Myanmar is bracing for a rougher ride after a few years of giddy economic expansion as foreign direct investment slows amid falling oil prices and global uncertainty. […]

China or India: Difficult choice for new Myanmar government

Even as the Aung San Suu Kyi-led National League for Democracy (NLD) is expected to form a new government in Myanmar, China has lost no time in diagnosing the import of the party’s victory and is all set to recalibrate its policy towards the country to steal a march over India towards gaining a deeper […]

Five firms selected for bus import plan

Authorities hope the BRT lite plan will bring order out of the near-chaos of Yangon’s multiple privately owned buses in competition with each other. Plans call for a November launch for system. Six companies had originally signalled interest in supplying buses, though five were ultimately chosen, of which four are also investors in the system. […]

Daewoo Names New Chief After Ex-CEO Quits Over Myanmar Gas Sale Spat

South Korea’s Daewoo International Corp., the operator of Blocks A1 and A3 offshore Myanmar, appointed a new CEO after the firm’s former top-ranking executive resigned over a disagreement regarding a plan by parent company POSCO to sell its stake in the Southeast Asian gas project, an official told Rigzone Thursday. Daewoo International named Vice President […]

Daewoo International CEO dismissed over Myanmar sale

POSCO has decided to dismiss Daewoo International CEO Jeon Byeong-eal for openly disapproving of its plan to dispose of Daewoo’s stake in a Myanmar natural gas project, officials familiar with the matter said Wednesday. The world’s fourth-largest steelmaker is expected to accept the resignation tendered by Jeon on May 14. Jeon and 31 other heads […]

Rakhine Coal Plant to Go Ahead

The Rakhine state government said that a coal power plant will be built in Kyautphyu this year amid concerns from local residents. This facility is to be built in collaboration between MCM Energy Co Ltd from the US and Daewoo of South Korea, and arrangements have been made with the local authorities. One official, who […]

Korean firm – Sky Asia pushes for Myanmar’s first cable car project

A Korean company is helping develop infrastructure for the rising tourism industry on Myanmar as it plans to build and operate the first cable car in Mount Kyaiktiyo in Mon State next year. “The cable car will give easier access to Kyaiktiyo Pagoda, better known as the golden rock, located at the summit of the […]