Home MMBIZ News Yangon Gov’t Invites Foreign and Local Entrepreneurs to Develop Industrial Estates

Yangon Gov’t Invites Foreign and Local Entrepreneurs to Develop Industrial Estates

The Yangon Region Government has invited potential foreign or local developers in a bid to develop industrial estates around Yangon up to international standards, an announcement said.

The projects will be carried out on build-own-operate (BOO) basis under the country’s new Foreign Investment Law or the Myanmar Citizens Investment Law, the authorities said in a notice, inviting proposals to develop the estates.

“Yangon Region Government plans to develop industrial estates at various places around Yangon up to the international standard,” the announcement said.

The authorities said these industrial estates need to be developed and managed by experienced developers and operators which would “lead to a situation where international standard facilities and infrastructures could be assured and better quality services could be rendered” to the investors or tenants who establish and operate manufacturing units either for export or domestic consumption.

“As the development sites of planned industrial estates are near the vicinity of Yangon area it is intended that labour intensive industries that have lower electricity consumption and have the least possible environmental consequences could be given more priority,” the Yangon Region Government said.

It said it also wants the land in the industrial estates after development to be “sub-leased to genuine investors or tenants at affordable prices.”

Detailed terms and conditions were made available during office hours since last month at the admin department of the Yangon Region Government office, it said.

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