SOUTH KOREA WANTS TO SET UP INDUSTRIAL PARK ON RIVERBANK OPPOSITE YANGON RIVER

12 Jul 2013 11:19
YANGON, July 8 (Bernama) -- South Korean investors are eyeing to set up an industrial park in Dala township, the opposite bank of Yangon River which links urban Yangon. The move comes as the South Korean government is planning to build a friendship bridge crossing the Yangon River to link urban Yangon with Dala, Xinhua news agency quoted official media as saying. About 50,000 workers travel cross the Yangon River by ferry boats every day to work in Yangon. Dala is accessible by waterways and has much land resources and work force to to make foreign investment possible. Meanwhile, South Korea has agreed to provide a US$500-million loan to Myanmar from the 2013 to 2017 period Official statistics show South Korean investment in Myanmar amounted to US$2.979 billion as of March 2013. Bilateral trade between Myanmar and South Korea reached US$573.4 million last year. --BERNAMA EE