December 15, 2016

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MCEA to cooperate with Korean Overseas Construction Association

Skilled workers seen in manufacturing machinery products. Photo: Tin Hla Maung
Skilled workers seen in manufacturing machinery products. Photo: Tin Hla Maung

THE Myanmar Construction Entrepreneurs Association (MCEA) and Korean Overseas Construction Association plan to cooperate and implement local construction and development projects starting in mid-December, according to an MCEA spokesman.
He said the initial works will include the expansion of the current Yangon-Mandalay expressway and the construction of an express railroad along the highway.
“As more foreign investment comes in and the financial sector stabilises, apartments for low-income families will be built in regions and states with a half-cash down and half-installment payment system. Low-priced apartments will also be built at industry zones for factory workers,” he added.
There will also be regional development works to be implemented together by MCEA and the Korean association, the spokesman said.
The Korean companies Hyundai, Samsung, KIA and other members of the Korean Overseas Construction Association have already established operations in Myanmar.
The spokesman said more foreign investment would benefit Myanmar and its
people.

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