Yangon Regional Government and South Korea based company, Myanmar Wooree Company signed a MOU for Yangon Region Economic Development project to improve businesses in the commercial city of Yangon

The Yangon Region government and South Korea-based Myanmar Wooree Company signed a Memorandum of Understanding for Yangon Region Economic Development Project at Yangon Region government office on 11 August.
Yangon Region Chief Minister U Phyo Min Thein in an address said, “this event aims to the commercial development of Yangon Region. Signing an MoU between Yangon Region government and Myanmar Wooree Company is also the first step for the regional government to improve businesses in the commercial city of Yangon, in cooperation with economic development partner South Korea, under the guidance of the Ministry of Commerce.
The industrial development project area is located on the west bank of the Yangon River. It is also situated near the construction project area of the Yangon-Dala Bridge, which is a friendship bridge between Myanmar and South Korea. The construction of the bridge is slated to be completed in 2020-2021fiscal year. “This bridge will bring a number of benefits to the industrial zone area implemented by Wooree Company and economic development for Yangon Region”, said Yangon Region Chief Minister. In addition to this, Yangon Port is being planned to be expanded to the mouth of Yangon River, he maintained.
Mr. Young Deuk Lee, chairperson of Myanmar Wooree Company, explained the industrial development zone construction activities and later signed an MoU with Yangon Region government. Officials then posed for a commemorative photo.
Present at the meeting were Dr Than Myint, Union Minister for Commerce, Yangon Region Chief Minister U Phyo Min Thein and officials from the regional government.—GNLM

(Global New Light of Myanmar: http://www.globalnewlightofmyanmar.com/yangon-region-signs-mou-for-industrial-development-with-myanmar-wooree-co/ )

​