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Business trends

Myanmar industrial parks offer precious infrastructure to investors

South Korean, Thai and Singaporean developers build business zones around Yangon

The 225-hectare Korea-Myanmar Industrial Complex north of Yangon will cost around $110 million. (Concept drawing courtesy of KMIC Development) 

YANGON -- South Korean state-linked Korea Land and Housing broke ground on an industrial park near Yangon on Thursday, becoming the latest foreign company to develop such a project in the country, a move that the Myanmar government hopes will help to draw in overseas manufacturers. Also in the pipeline are similar projects by Thailand's Amata and Singapore's Sembcorp Industries.

Together with its local partner Myanmar's Ministry of Construction, Korea Land and Housing (LH) held a groundbreaking ceremony for the Korea-Myanmar Industrial Complex in the township of Hlegu, which is just 25 km north of Yangon International Airport and 40 km from the city center.

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