doing business in myanmar – what you need to know as a singaporean
A total of 29 industrial zones will be placed under the control of Yangon City Development Committee (YCDC), said Yangon Chief Minister Phyo Min Thein.
“There are a total of 29 industrial zones in Yangon Region. These industrial zones will have to be handed over to the YCDC. We are trying to upgrade regional facilities,” said Yangon Chief Minister Phyo Min Thein.
The responsible persons are discussing matters relating to vacant lands in industrial zones. The new government has been holding discussions with the owners of the vacant lands in order to undertake industrial enterprises since it came into power.
“The vacant lands in industrial zones have not left many. We continue to clear the remaining vacant lands in the industrial zones. The industrial zones will have to be upgraded. In this state, we will have to take reasonable service charges. These situations are under preparation,” said the Yangon Chief Minister.
Interests of foreign investors are on the rise in Yangon. But lands and services can be created for the investment of the foreign investors. New industrial zones and new satellite towns should be established. The land price must be reasonable to those wishing to make investments, said the Yangon Chief Minister.
“Preparations are seen in east Dagon. Preparations are seen in Kyimyindine, other side of the river. We have also plans to build dry ports in order to ensure smooth and secure water transport,” said the Yangon Chief Minister.
Those attaining lands in industrial zones must construction necessary buildings to operate the tasks according to the rules and regulations. If they fail to do, the lands in the industrial zones must be confiscated back. But, some land takers don’t do the business. Now we are scrutinizing who are doing the business or who are not, said the Yangon Chief Minister.
“Now, a quite number of buildings have been already constructed in the industrial zones. A few number still remains. We have difficulty in contacting with those industrial land owners. Frankly speaking, if those wishing really to invest have these vacant lands, it will be more beneficial to them and the country. We must follow the law. If any business is not done, we will confiscate the vacant lands from the industrial zones. We must implement the vacant lands rather than confiscating. Implementing the lands can lead to more progress to the country,” said the Yangon Chief Minister.
SOURCE: ELEVEN MYANMAR
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