Korea’s permanent secretary to Myanmar says it will not be possible to move to Bangladesh

Aung Naing Oo, secretary-general of the Ministry of Foreign Investment and Foreign Trade, said that it was wrong to move the Korean factories operating in Myanmar.

“When a news story that was completely unrelated came back today, the media asked if it was true that 100 Korean factories would move to Bangladesh from Burma. I replied that it was not true, ”Aung Naing Oo, secretary-general of the Ministry of Foreign Investment and Foreign Trade, said on his social media page.

Operated the Korean investment in Myanmar was Bangladesh immigrants, this issue has never denied and which were spread 0 policies and political will include believes the Myanmar Investment Commission on 6 November 2019 press conference Clear legal disclosure.

According to the report, about 100 businesses in Myanmar are not available in the country due to the lack of a suitable industrial environment in the country.

Korea is the sixth largest investor in Myanmar, with over $ 4.04 billion invested in 183 businesses, accounting for 4.8% of the total foreign investment in Myanmar.

“Such investments are not easy to come by,” he said. After several consultations, the industrial zone was developed. Therefore, the Myanmar Investment Commission also provides necessary assistance. We are also making it easy to do investment. Investment has been facilitated after the permit was issued. As a result, Korean investors have proposed and the investigation is continuing. Therefore, there is no transfer of investment, ”said Thant Sin Lwin, Secretary of the Myanmar Investment Commission.

Myanmar Ambassador to the Republic of the Union of Myanmar U Thant Sin is Mr. Vice President & Managing Director of Industrial Bank of Korea (IBK) based in Korea. Mr. Kim Hyung-II and Mr. Kangmin Bank, Head of Global Supporting Division at KB Kookmin Bank The Kim Hyeun Jong delegation met separately on April 29, 2020, according to the Ministry of Foreign Affairs.

At the meeting, IBK Bank conducted a check on 3,000 people worth $ 81593 to use in the COVID-19 disease testing in Myanmar. KB Kookmin Bank handed over a donation of 3,000 copies worth $ 75,240 to the COVID-19 Detection Kit and 3,000 Viral Transport Medium (VTM).

The Myanmar Embassy Seoul, which will receive a total of $ 1,568,833 worth of diagnostic testing kits in early May, will be sent to Myanmar Airways International (MAI) soon.