S. Korea to offer policy advice to Myanmar and Uzbekistan

SEJONG-- South Korea will offer policy advice to Myanmar and Uzbekistan for the development of their infrastructure, the finance ministry said Wednesday.

The Economic Innovation Partnership Program -- which is set to begin next year -- is meant to provide South Korea's know-how to the two developing countries for comprehensive economic cooperation, including infrastructure.

South Korea also said the program could help South Korean companies win projects from Myanmar and Uzbekistan.

On Tuesday, Myanmar's civilian leader Aung San Suu Kyi said in a meeting with South Korean President Moon Jae-in in Naypyitaw, the capital of Myanmar, the Southeast Asian country is doing its best to draw more investment from South Korea.

South Korea has decided to double its aid for Myanmar through the Economic Development Cooperation Fund to US$1 billion between 2018-2022 from the previous five years.

In March, Uzbekistan said it will provide support to South Korean companies, which are seeking to tap into infrastructure projects in the Central Asian country.

South Korea has become a donor country from being a recipient of U.N. aid in half a century, a transformation that has inspired many developing nations to follow in the footsteps of the Asian country in advancing their economies.

Source: Yonhap News Agency

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