Joint Venture for Garment Industry: Korea and Myanmar

Korean firm Inno Company and the military-owned Union of Myanmar Economic Holding Ltd (UMEHL) have formed a joint venture to run a garment factory in Mingalardon township, Yangon, according to the Ministry of National Planning and Economic Development.

The joint venture named Myanmar Inno International Ltd will operate the garment factory with cutting, making and packing system in Pyinmabin Industrial Zone.

Myanmar Investment Commission approved the business under the foreign investment law on May 10. In fact, this is the third business the commission has approved for UMEHL this year. more…