Local and foreign businessmen are welcome to invest in the new urban development projects of the Yangon zone master plan, said U Than, who is the joint secretary of Yangon City Development Committee and a member of Yangon Region Investment Committee.
U Than was speaking during the Yangon Investment Forum held on 9 May.
Sub-centres, new towns, railway stations and industrial zones will be established as part of the new urban development plan.
The sub-centre projects are planned for Mindama Secondary central business district (CBD), Yankin Sub-centre, Thilawa SEZ Sub-centre, Dagon Myothit Sub-centre and Dagon Seikkan Sub-centre. The trade centre, convention centre, social service centre, R&D logistics, information technology and software centre, commercial, business and tourism centres, a sports complex, an amusement park and an inland port will be established in the central business districts.
The new town projects are planned for Thilawa New City, Southwest New City (west side of Kyimyindine), Dagon East New City and Dala New City.
Next, the railway station area development projects will be carried out near and around Yangon Central Railway Station, Kyimyindine railway station, Insein railway station, Yegu railway station, and Mingaladon railway station and Danyingone railway station, as well as the Emblem station of the nation, Gateway of CBD, commercial and business function accumulated station, transit node station from surrounding areas and the intercity terminal station projects.
Businessmen can invest in the Thilawa Special Economic Zone and new industrial zones, besides the existing industrial zones.
The Yangon urban development master plan will prioritise 42 projects at an estimated cost of US$2.6 billion. Among the priority projects are nine urban development projects, 10 central business district renovation projects and nine social service and management projects. Some $885 million have been allocated to implement the 25 projects for the urban development management sector. The remaining 17 projects are in the infrastructure development sector, at an estimated spending of $1.802 billion.
“The Yangon development vision is to make it an international hub city, a well-managed infrastructure city, a comfortable city and a city of good-governance,” said U Than.
“The urban structure includes decentralisation, which means the urban centre function will be dispersed to the outer areas. The Yangon Region will design a national road network and also, it is planned to extend this project to the southern seaport,” he maintained.
Additionally, businessmen can invest in the proposed projects, such as the smart and eco city project in northeast of Yangon, the Dagon East modernised industrial zone in Dagon Myothit (east and south), the low cost and affordable housing project in Twantay Township, the Yangon South West New City project in Twantay and Kyimyindine townships, government employees’ housing projects in Dagon Seikkan Township, Sagyiwa transport hub projects in Mingaladon Township, and Dry port and ICD projects in Ngwepinle and Hlinethaya townships.
Some 11 new industrial zones will be established outside Yangon city.
“We conducted a feasibility study of the land use plan. We will avoid favouritism by not divulging information and prevent monopoly. We disclosed information to the public as they have a right to know and express freely their feelings concerning the projects. This being so, we will reveal to them in advance,” said the Yangon Region chief minister.
The Yangon Region is the commercial hub city attracting local and foreign investments. It helps support 23 per cent of the GDP of the country.
By May Thet Hnin