Investment minister outlines major Yangon developments
In a statement at the annual meeting of the Union of Myanmar Federation of Chambers of Commerce and Industry, minister of investment and foreign economic relations U Thaung Tun said that three major foreign-backed developments are moving forward despWorld Bank Group backs Korean industrial complex
As we had reported back in July, a Korean-Myanmar Industrial Complex (KMIC) is set to be established in Hlegu Township in Yangon Region. Late last month, the Multilateral Investment Guarantee Agency (MIGA), member of the World Bank Group, said in a s
Myanmar officially virus-free despite lockdown
Myanmar remains one of the only countries in Asia with no official cases of the COVID-19 coronavirus. Nevertheless, the country has redoubled its prevention efforts, banning travelers from the hardest-hit countries and pouring resources into domestic
Embassy quashes rumors of Korean exodus
The Embassy of the Republic of Korea has officially denied rumors of a mass exodus of Korean businesses from Myanmar. The embassy issued a statement that emphasized South Korea’s commitment to investing in Myanmar. It also claimed that it had not h
Rumors of Korean business pullout false
A rumor that around 100 Korean businesses will leave Myanmar for Bangladesh is false, said U Thant Sin Lwin, Secretary of the Myanmar Investment Commission (MIC). Speaking to the Myanmar Times, U Thant Sin Lwin dismissed recent reports in Bangladesh
