Malaysia, Korea eye Myanmar<\/p>\n
YANGON, Myanmar (AP): A Malaysian and a South Korean company
\nhave signed agreements to set up two factories worth a total of
\n$4.8 million in Myanmar, official newspapers reported Thursday.<\/p>\n
Weng Hong Hung of Malaysia signed a land lease agreement with
\nthe Department of Housing Wednesday to build a garment factory to
\nmake slacks, jeans and shirts, according to the Myanma Ahlin
\ndaily.<\/p>\n
It said the $2.8 million factory is expected to make 6 million
\ngarments annually.<\/p>\n
In the other deal, the Esquire company of South Korea signed a
\nland lease agreement Monday to build a $2 million shoe factory,
\nwhich is expected to begin production in March. About 95 percent
\nof the production will be exported, while the rest will be sold
\nlocally, the report said.<\/p>\n
Malaysia is the fourth largest investor in Myanmar with $597
\nmillion worth investments, or about 8 percent, of the total
\nforeign investment by 25 countries with a presence in Myanmar.
\nSouth Korea is the 12th largest investor with $107 million,
\naccording to the latest government figures.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/malaysia-korea-eye-myanmar-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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