Myanmar’s first textile-based industrial zone to be established in Sagaing

Eastern Development International (Myanmar) and Dongzhan Textile Group, a Chinese company, are set to jointly develop a textile industrial cluster worth over US$371 million in Sagaing Region. The two companies will work with the private sector on all stages of construction of the project, making it the first textile-based industrial zone in Myanmar. The project […]

Thilawa, Thakayta and Thanlyin work together to implement first-ever LNG-to-Power project

The breeze blowing through the Yangon River made me warm. A host of sea-going vessels are anchored in the wide river. A scene of a flock of birds slowly flying in the sky seems a flurry and the ships small and big navigating in the river looks like a moving painting. On the bankside of […]

IBK to begin operation in Myanmar this month

The Industrial Bank of Korea said Sunday it will officially launch and operate a local in subsidiary Yangon, the largest city of Myanmar as early as this month, which marks its third overseas unit, following its operation in China and Indonesia. Branded as IBK Bank Myanmar, its new overseas subsidiary was designed to handle various […]

Thailand becomes top corn export market for Myanmar

Thailand is now the top buyer of corn produced in Myanmar, with more than half of Myanmar’s corn harvest now being exported to its neighbour, said U Myo Thu, Deputy Director General of the Myanmar Trade Promotion Organisation. Corn to be used as industrial or animal feed is in high demand in Thailand. With exports […]

MIGA provide guarantee to Korea-Myanmar Industrial Complex

The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, on October 26 issued guarantees to Korea Land & Housing Corporation of the Republic of Korea (LH) covering its equity investment of up to US$5.7 million in the Korea-Myanmar Industrial Complex Development Co., Ltd (KDC) for a period of up to 15 […]

Chinese Companies Flocking to Southern Myanmar’s Industrial Complex Megaproject

YANGON—Despite the surge in COVID-19 in Myanmar, Chinese companies including state-owned energy giants are seeking opportunities to invest in the Dawei Special Economic Zone (SEZ), a US$8-billion (10.4-trillion-kyat) strategic project in southern Myanmar’s Tanintharyi Region that is set to be Southeast Asia’s largest industrial complex. The Dawei SEZ management committee has invited international companies to […]

Development of the Korean industrial project to begin in December

Construction of the Korea-Myanmar Industrial Complex (KMIC) will commence in December despite the COVID-19 pandemic, said Mr Kim Gun Woo, general manager of Korea Land and Housing Corporation’s representative office in Myanmar. The project is estimated to generate US$4.7 billion worth of value from investments and generate more than half a million jobs in support […]

Can we turn suspended factories into engines of national economic growth?

Steel is an essential material in the industrial products and in building infrastructures. If Myanmar can produce steel on commercial scale, we will be able to save our foreign exchange used in importing steel products and build an industrialized country. In fact, the country has large deposits of iron ore. Myanmar set up steel mills […]

National Planning Law Expects Highest Growth in Telecom, Industrial, Financial Sectors

Amid a slowing economy and complaints from the business community, Myanmar’s parliament has approved a National Planning Law for the 2018-2019 fiscal year which expects to see the highest growth rate in the country’s telecommunications, industrial and financial sectors. On Wednesday, President U Win Myint signed the bill with the approval of the Union Parliament […]