The Yangon regional government signed a Memorandum of Understanding (MOU) with Myanmar Wooree Co, a South Korean firm, to establish an industrial project on July 11. The regional government plans to construct this industrial project on the western side of Yangon River and will plan to connect that with the proposed Dala Bridge, located in Dala township. Based on the study, different parties will determine the site area, types of investment and other details. Korean investors are highly interested to invest in Dala Township.

The MOU is merely the first step. Wooree is required to undertake a feasibility study. It will also be required to undertake an Environmental Impact Assessment (EIA), which is legally required by Myanmar law.

Source: Myanmar Times

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