Myanmar industrial land speculation – music about to stop

wasting time in myanmar, unproductive meetings, wrong prospects. business partner search service

Many speculators sitting on land in industrial zone like Thilawa Special Economic Zone will faced prosecution as they have not develop the land within a stipulated period after receiving the land from the government.

Some speculators who are ignorant of the law happily “buy” land in industrial zones from the previous owner without knowledge as to the legitimacy of their purchase.

It is a game of musical chair and looks like the music is going to stop. Let’s see who is left standing when the music stop.

“Land buyers speculating in the area of industrial zone, including Thilawa Special Economic Zone, will be facing serious charges” said Myat Thin Aung, chairman of the Hlinethaya Industrial Zone at a meeting with investors last week.

“Many vacant lots possessed by some people –likely to be speculators – are still not being developed yet to run business. We already receive an instruction letter to take the action against those people from the chief minister Myint Swe of Yangon Region,” Myat Thin Aung.

A total of 29 industrial zones were developed in Yangon area. Over 6,000 factories are running in the 20 industrial zones out of 29, he added.

Land speculation has driven up the price of industrial land and negating efforts of the government to attract foreign investment into the manufacturing sector which help create much desired manufacturing jobs.

Currently most foreign investment goes into the oil & gas, mining, hotel and tourism industries – these industries basically exploit the natural resources that Myanmar is richly endowed with. However there is a limit as to how many jobs it can create.

If the Myanmar government is serious about creating mass employment via manufacturing it has to deal decisively against land speculation. Otherwise it will be labelled by foreign investors as the emerging market with the most expensive industrial land.

The views expressed above are those of the author and not necessarily represent the views of the government agencies, companies or individuals mentioned in the article. Read our complete disclaimer policy here.

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Dagon City", “MOGE”, “yangon stock exchange”,"MECTEL", "hydropower", etc.

To learn about the business opportunities in Myanmar click here

To evaluate the various segments of the market that you could possibly enter base on your competencies you can do a Custom Market Entry Strategy Research. You can see a sample report at page "Actual Sample of Client Report”. Click here to go to page.

Do you know that IE Singapore is giving up to SGD 20,000 support for Singapore company to venture into Myanmar? To learn more click here