TODAY

Efforts made to control cross-border illegal goods

SMUGGLING of illegal goods, including drugs, through border areas will be strictly controlled with combined inspection teams, said Salai Isac Khim, the Chin State minister for Electricity and Industry at a press conference held at the Summit Parkview hotel on 23^rd August.

“We will make efforts to control the cross-border illegal goods with the state government. Currently, we will establish the combined teams to control at the major checkpoints.” he said.

The Chin State government decided at the meeting to organize the teams with the authorities concerned to prevent from the inflow of illegal goods across border, it is learnt.

Efforts are being made to combat the cross-border illegal goods by assigning anti-smuggling inspection teams in the towns of Falam, Paletwa and Teedim.

Chin State is witnessed to have only a little trade with India. Therefore, Chin State government is currently striving to open more border trade camps between Chin State and India to promote border trade.

Under the guidance of Union government, the Chin State government is trying to develop trade, small- and-medium-sized enterprises (SMEs) and tourism under a five year project.

Ref: GNLM, 26 August 2016

Myanmar-Korea textile zone to create 60,000 jobs

A five-hundred acre textile factory zone, which will reportedly crate 60,000 employment opportunities for Myanmar workers, is reportedly to come to fruition through the concerted efforts of Myanmar and Korean business groups.

The Myanmar Olympus Asia Developer Group and the Korean PANKO Corporation will be responsible for implementing the project which will see the production of canvas, cotton and spindles.

“It is a joint project by both our countries. They [the Koreans] show keen interest [in the project]. Yangon has been the area earmarked [for project implementation], but we’ll release more detailed and concise information in due course. Talks are currently also being held with the Yangon regional government concerning electricity. Upon completion, the industrial zone will offer about 60,000 jobs,” said U Okkar Zaw Naing, CEO of the Olympus Asia Developer Group.

The project will break ground in 2017 and take three years to complete, in curring a reported expense of between US$30-50 million. The textile zone will also require 100MW of electricity to run and operate.

A ceremony to mark the singing of Memorandum of understanding (MoU) between both companies was held at Yangon’s Novotel Hotel on August 19^th, and was attended by Yangon Region Minister U Phyo Min Thein and a delegation from the South Korean embassy.

The textile factory will undoubtedly develop Myanmar’s garment sector, but entrepreneurs already involved in the domestic sector forewarn that problem with land and a non-replete electricity supply could arise as the project is rolled out.

Ref: GNLM, 26 August 2016