Taiwan’s Cathay United Bank opens branch in Myanmar

Taiwanese banks targeting investors under New Southbound Policy

Taiwan News
Date: 2021/01/07
By:  Matthew Strong, Taiwan News, Staff Writer

Cathay United Bank opening branch in Yangon, Myanmar.  (CNA photo)

TAIPEI (Taiwan News) — Cathay United Bank opened a branch in Myanmar’s largest city, Yangon, Wednesday (Jan. 6), in a move seen as a step forward under Taiwan’s New Southbound Policy.

The office’s main aim is to assist Taiwanese businesses in investing in the rapidly developing economy of the Southeast Asian nation, CNA reported. Taiwan in 2016 launched its New Southbound Policy, targeting 18 countries in South Asia, Southeast Asia, and the Pacific, including Australia and New Zealand, to achieve closer relations in a wide variety of spheres, from trade and investment to culture and education.    [FULL  STORY]

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