International community eyes investing in industrial zones in Yangon

The international community has shown interest in establishing industrial zones in Yangon Region, according to the Directorate of Investment and Company Administration (DICA).

“A lot of foreign investors want to set up industrial parks,” said Than Aung Kyaw, deputy director general of DICA.

During the 14th regular meeting between Vice President Myint Swe and local businesspeople in Yangon on February 1, Yangon Region Chief Minister Phyo Min Thein revealed a plan to establish Yangon special economic zone in Dala-Kawhmu-Kungyangon on the other side of the Yangon river.

“Plans are underway to establish a special economic zone in the area from Dala and Kawhmu to Kungyangon. The central committee for special economic zones is also planning to discuss the matter,” said Phyo Min Thein.

He added that the project would be implemented as soon as the union parliament gives approval.

“The matter will be submitted to the central committee and after approval has been sought from the union government and union parliament, we will start implementing the project,” said the chief minister.

The emergence of more special economic zones would help improve the production sector of Myanmar, thus contributing to the private sector, he commented.

Source: Eleven Myanmar

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