Government to Give Investors Equal Rights at New Industrial Zones, Satellite Townships

The government has plans to build new in­dustrial zones and satel­lite townships across the country, U Kyaw Win, the minister for planning and finance, told an invest­ment conference.

Under the plans, foreign and local investors in old industrial zones will also have equal investment rights in new projects, added U Kyaw Win.

“The existing industrial and economic zones are still being implemented and some have been dis­qualified. It is quite dif­ficult to upgrade existing zones’ quality and stand­ards,” U Kyaw Win said at the conference.

Progress on several of the country’s largest eco­nomic zones has been marred by setbacks.

The Dawei Special Eco­nomic Zone (SEZ), which includes a deep sea port, has faced numerous set­backs in recent years amid widespread opposition from local communities. The joint Myanmar-Thai project would link the Andaman Sea to Bangkok and the Gulf of Thailand.

The Chinese backed Kyaukphyu SEZ, launchedin 2013, will cover more than 4,000 acres and in­clude an industrial zone, a deep-sea port, and a resi­dential zone. But progress on the industrial zone has been slowed by long-running resentment over land disputes and com­pensation from locals.

There are 29 industrial zones across the coun­try and most of them are in Yangon. The My­anmar government has announced it is working together with the United Kingdom to upgrade in­frastructure at several of these industrial sites.


Source: Myanmar Business Today

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Puma Energy", “MOGE”, “yangon new town”,"MECTEL", "hydropower", etc.