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Promoting Investments: Korea Businesses Seek Opportunity In Myanmar

8 February 2018

The joint forces between Myanmar and Korea are now in full swing to scale up Korean’s investment in Myanmar.

The 13 Korean companies and organizations led by the Secretary General of the ASEAN-Korea Centre visit Myanmar not only to seek business opportunity but also to improve win-win partnership between the two countries.

According to the MIC, Korea stands sixth on the list of foreign investor countries with over 3.5 Billion US$ investment, especially in infrastructure projects, hotel and tourism and manufacturing industry.  

The Secretary General shared the future potential areas for the investment and highlighted the implementation process of the policy. 

Secretary General, ASEAN-Korea Centre, Kim Young-Sun said ".... A series of Myanmar government effort, particularly reform and deregulation matters are very impressive. So  it will give very favorable impression and business environment for potential investors not only from Korea, but also the international community. But more important is implementation….”

With the target of 6 Billion $ investment for this fiscal year, DICA also shared the areas that Myanmar would like to encourage more foreign investment.

Deputy Director General, DICA, Than Aung Kyaw said “The developing country like Myanmar needs to improve foreign investment more across the country. There are many sectors that we would like to encourage the foreign investors to invested in, which are logistic sector, import industry that can help not only to gain technology assistance but also job opportunity for the local, as well as skills development sectors, like education.”

Most of the Korean investment goes to the infrastructure related projects and manufacturing industries.

The secretary General also shares their future plan to seek for mutual cooperation between the two countries. 

Secretary General, ASEAN-Korea Centre, Kim Young-Sun said “…I think, Korea and Myanmar are in the position to develop the true and long lasting partnership which is mutually beneficial. I think that is most important when it talk about the partnership between the two countries...."

According to the official statistics, there are over 560 Korean companies that registered in Myanmar.

Along with the Myanmar-Korea investment Promotion seminar, one on one business matching between businesses of Myanmar and Korea will follow on Thursday.