BUSINESS—South Korea to sponsor US$20m development institute in Burma

South Korea signed a US$20 million Memorandum of Understanding with the Burmese government on Tuesday to fund a national institute for economic and social development in Naypyidaw. The Myanmar Development Institute (MDI) will aid in developing an evidence-based policy-making processes through research and consultation. The project is spearheaded by the Korea International Cooperation Agency, under South Korea’s Ministry of Foreign Affairs.