October 31, 2016

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Mandalay No1 and 2 Industrial zones to be upgraded to meet international criteria

Mandalay Myotha Industrial Development Park. Photo: mmidproject.com
Mandalay Myotha Industrial Development Park. Photo: mmidproject.com

The No. 1 and No. 2 industrial zones in Mandalay will be upgraded to meet international criteria to be able to manufacture agricultural machines and equipment, it is learnt.
There are 392 heavy enterprises, 304 middle-sized enterprises and 596 small-scale enterprises in the Mandalay industrial zone, with 13 categories of manufacturing businesses.
Upgrading of the industrial zone will deal primarily with technical problems. The machines used in production are also required to meet the prescribed criteria. Foreign investment in the zone is essential in order to bring down the prices of equipment and service charges, said U Khin Maung Oo, a businessman in Mandalay industrial zone.
There is virtually no manufacturing of equipment used in agri-business in the zone. If there were agricultural machine manufacturing factories in the zone, the machines would more easily reach the farmers in upper Myanmar. Foreign investment can only constitute a maximum of 49 per cent of the agriculture sector, with the remaining 51 per cent going to the state. However, investments of 51 per cent can be a financial burden on the state. Therefore, this limitation needs to be relaxed, said U Soe Thar, an industrial entrepreneur.
To improve the industrial zone, the authorities concerned are making efforts to provide sufficient electrical supply and sanitation facilities, it is learnt. —200

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