Korean firm invests in Myanmar jewelry venture

Investors from South Korea and Myanmar have teamed up to form a new joint venture focusing on crafting silver and gold jewelry, according to reports. An article in Myanmar Business Today said that Apple Design Jewelry Company will be formed as part of a USD 2 million investment, and will be located at the East Dagon Industrial Zone on the outskirts of Yangon. It is the first foreign investment in the jewelry sector under the current government. “This firm will export the products as well as sell in the domestic market,” U Kyaw Tun Win, director of the Directorate of Investment and Company Administration (DICA), was quoted as saying. “As this is CMP [cut, make, and pack] the firm can also import raw materials for its products.” U Myo Min, president of the Yangon Region Gold Entrepreneurs Association, said foreign investment in the sector will help create jobs, as well as introduce new technologies to the market.

Leave a Reply

Your email address will not be published.