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Dawei SEZ Draws Investor Interest, but Lacks Infrastructure

Businesses from China, Thailand, Korea and Japan, including those from the power and logistics sectors, have said they are keen to invest in the Dawei Special Economic Zone (SEZ) in Tanintharyi, which is near the Thai border. Investor interest in Dawei, which has yet to be developed, has been on the rise since Myanmar and […]

Yangon Hotel Rates Remain a Bargain

YANGON, 8 November 2019: Yangon will close 2019 with at least 400 new rooms in the city’s highly competitive upper-scale hotel segment, according to the latest Colliers International Myanmar report. That pushes the room total from 5,300 in the four and five-star categories at the close of the second quarter of this year to 5,700 […]

Two Chinese Airlines Start Direct Flights from Yangon

Yangon Aerodrome Co Ltd, operator of Yangon International Airport (YIA), has announced the launch of Qingdao Airlines’ direct flight between Yangon and Ningbo in Zhejiang, China. Qingdao Airlines will operate an Airbus A320 aircraft with the capacity for 180 passengers for the new service that will operate every Monday and Friday between Yangon and Ningbo, […]

Shan State’s Peace and Tea Leaves

Among Myanmar’s many agricultural products, tea leaves hold a lot of potential for export markets because they are organic product grown naturally, an official with the Myanmar Tea Association says. However, development of the sector is tied to conflict in Shan State, one of the main growing areas for the crop in Myanmar. If a […]

Two Korean Banks Hopeful of Winning Approval to Open Myanmar Branches

YANGON—Two South Korean banks involved separately in a low-income housing project and a joint industrial complex construction project in Yangon are hopeful of winning Myanmar government approval to offer banking services in the country soon. If they are granted licenses, KB Kookmin Bank, one of South Korea’s largest banks, and Industrial Bank of Korea (IBK) […]

South Korean President Enhances Bilateral Economic Ties with Myanmar

YANGON- The president of South Korea pledged to accelerate Korea’s economic presence and to cooperate on development in Myanmar after meeting with the Myanmar State Counselor in Naypyitaw on Tuesday. The trip is a part of his “New Southern Policy” to deepen relations with Southeast Asian nations, including in the economic realm. Moon Jae-in arrived […]

SK buys stake in Myanmar oil firm for 150 bln won

SEOUL, July 19 (Yonhap) — SK Innovation Co., South Korea’s top refiner, said Friday its two affiliates have acquired a 35 percent stake in Myanmar’s second-largest petroleum product distributor, for 150 billion won (US$127 million). SK Innovation said the two units — SK Energy Co. and SK Trading International Co. — will each have a […]

Work on city side of Yangon-Dala bridge to start next month

YANGON—Construction on the Yangon side of the planned Yangon-Dala Bridge will begin next month, regional Chief Minister U Phyo Min Thein said at a regional investment committee meeting on Wednesday. Spanning the Yangon River, the bridge—also known as the Korea-Myanmar Friendship Bridge, as it is funded by South Korea’s Economic Development Cooperation Fund (EDCF)—will link […]

KB Kookmin Bank interested in expanding Myanmar business

KB Kookmin Bank, one of South Korea’s top four banks, is interested in expanding its presence in Myanmar with more financial products and services, especially in the areas of providing financing for housing and small-and-medium enterprises (SMEs). KB Kookmin’s chief representative in Yangon, Kim Chang-woo, said the bank “is considering expanding its business in Myanmar […]

Myanmar aims to increase trade with South Korea

Myanmar will raise efforts to boost trade with the Republic of Korea, said U Aung Soe, Permanent Secretary of the Ministry of Commerce (MOC) during an event to promote local agriculture exports to South Korea on February 16. The event was hosted by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) […]