Idle industrial plots to be confiscated: regional minister
INACTIVE industrial zone land plots in the region will be confiscated by the government, said a cabinet member of Yangon Region government yesterday.
The government will take back land plots with no developed operations underway within the prescribed timeframe in Yangon’s industrial zones, said Minister for Electricity, Energy and Road Transport Daw Nilar Kyaw during a parliamentary session of Yangon Region Hluttaw.
According to the minister, land plots where no operation was carried out within six months will be confiscated.
Four teams formed by the regional government have made inspection tours of nine industrial zones including Hlinethaya, Shwelinban and Ngwe Pinle industrial zones since 19 May, said the regional minister.
During tours of inspections, some land plots were found to be currently lying empty or simply had warehouses built on them, she added.
U Tint Lwin of Mingalar Taungnyunt Constituency 1 said that some businessmen bought land plots for property speculation, not for business use while others bought only for warehouse leases.
According to sources, there are 2,339 idle land plots and 1290 warehouses on the 4,418-acre of land in 29 industrial zones in Yangon Region.