Myanmar’s Yangon industrial parks lure Singapore, Thai and Korean investors

Construction News

Myanmar’s Yangon industrial parks lure Singapore, Thai and Korean investors

As there are 12 townships situated in municipal outskirts in Yangon Region, plans are underway to establish industrial zones in 11 township except Coco Island, said Yangon Region Chief Minister Phyo Min Thein.

He said that there are keen investors from Singapore, Thailand and Korea.

“For the development of the industrial sector, there are about 30 industrial zones including Thilawa Special Economic Zone in Yangon. So, we strive not only to upgrade those industrial zones but also to implement the newly industrial zones.

“At present, we have signed an agreement for implementation of Yangon Amata Smart and Eco City in eastern Dagon Myothit under Thailand’s investment. We are going to hold a stake signing ceremony. Moreover, we have plans for the establishment of the Korea-Myanmar Industrial Complex in Nyaungnapin. The construction tasks will start soon.”

Giving details, Thein said Eco Green City project is located between Milepost-3/0 and 5/4 on Yangon-Mandalay Highway in Tharyargone Sakhangyi village in Hlegu Township.

“We are now upgrading our city aiming to become a beautiful and sanitary city. There are 12 townships in Yangon’s outskirts. And Coco Island is separately situated. However, we are striving to supply 24-hour electricity to Coco Island and to visit there. Likewise, plans are underway to establish industrial zones in 11 Townships situated in municipal outskirts. We are cooperating with Singapore aiming to build an industrial park in Helgu Township. Similarly, the Yangon Region Parliament approved to implement the industrial zone in Htantapin Township. So, we prepared to launch future construction tasks after inviting the investments from home and abroad, ” said Chief Minister Phyo Min Thein.

“The regional investment committee has allowed us to do the projects worth under US$ 5 million. So, we will quickly implement the projects. We carried out upgrading tasks in the relevant sectors like the garment industry which can create more job opportunities for many workers, ” said Phyo Min Thein.

Source: https://www.thestar.com.my/news/regional/2020/05/14/myanmar039s-yangon-industrial-parks-lure-singapore-thai-and-korean-investors