Myanmar's Yangon industrial parks lure Singapore, Thai and Korean investors

YANGON, May 14 (Eleven Media Group/ANN) - As there are 12 townships situated in municipal outskirts in Yangon Region, plans are underway to establish industrial zones in 11 township except Coco Island, said Yangon Region Chief Minister Phyo Min Thein.

He said that there are keen investors from Singapore, Thailand and Korea.

"For the development of the industrial sector, there are about 30 industrial zones including Thilawa Special Economic Zone in Yangon. So, we strive not only to upgrade those industrial zones but also to implement the newly industrial zones.

"At present, we have signed an agreement for implementation of Yangon Amata Smart and Eco City in eastern Dagon Myothit under Thailand’s investment. We are going to hold a stake signing ceremony. Moreover, we have plans for the establishment of the Korea-Myanmar Industrial Complex in Nyaungnapin. The construction tasks will start soon."

Giving details, Thein said Eco Green City project is located between Milepost-3/0 and 5/4 on Yangon-Mandalay Highway in Tharyargone Sakhangyi village in Hlegu Township.

"We are now upgrading our city aiming to become a beautiful and sanitary city. There are 12 townships in Yangon’s outskirts. And Coco Island is separately situated. However, we are striving to supply 24-hour electricity to Coco Island and to visit there. Likewise, plans are underway to establish industrial zones in 11 Townships situated in municipal outskirts. We are cooperating with Singapore aiming to build an industrial park in Helgu Township. Similarly, the Yangon Region Parliament approved to implement the industrial zone in Htantapin Township. So, we prepared to launch future construction tasks after inviting the investments from home and abroad, ” said Chief Minister Phyo Min Thein.

“The regional investment committee has allowed us to do the projects worth under US$ 5 million. So, we will quickly implement the projects. We carried out upgrading tasks in the relevant sectors like the garment industry which can create more job opportunities for many workers, ” said Phyo Min Thein.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3


Did you find this article insightful?


60% readers found this article insightful

Next In Regional

MMEA tracking Vietnamese fishing crew who escaped after their boats sank
Covid-19: Cases up by 2,154, bringing total to 310,097 (updated daily)
BN parties never agreed to appeal to King for Parliament sitting during Emergency, say MCA and MIC presidents
Crude oil price surge pushes FBM KLCI above 1,600
Bollywood, streaming giants on edge as Amazon gets flak for hurting religious beliefs in India
YouTube cancels Myanmar military-run channels, pulls videos
Bank Negara forex reserves higher at US$109bil
China deals fresh blow to tech giants in reach for data
Japan supercomputer shows doubling masks doesn’t help prevent viral spread
South Korea envoy hopes to wrap up talks with U.S. on defence costs

Stories You'll Enjoy