Written by admin on December 24, 2013. Posted in Uncategorized
Alopyae Company, a local manufacturing company, will team up with two South Korean entrepreneurs to produce value-added wood products in Myanmar, according to the Voice report.
Puri Timber Co Ltd, the joint veture between the Alopyae and two South Korean establishments, will set up the value-added wood factory in Bago, a two near the commercial city Yangon, according to an official of Myanmar Investment and Companies Directorate.
The company has granted permission by the Myanmar Investment and Companies Directorate on December 19.
The company would produce and distribute the value-added wood products.
Five foreign companies, two local companies and two joint ventures have made investments in fine wood production in Myanmar up to December, 2013, according to the Myanmar Investment Commission.
Myanmar will cease export of timber logs to foreign countries and only value-added wood products would be allowed to export as from 2014.
http://www.information.myanmaronlinecentre.com/myanmar-allows-a-korea-myanmar-joint-venture-to-produce-fine-wood-products/
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