fbpx

Private partnership mulled for Yangon’s urban transport plan

YANGON Private partnership is needed to implement the Greater Yangon Urban Transport Plan because the government budget is not sufficient to cover the US$25 billion project, according to a team leader from the Japan International Cooperation Agency (JICA).

The transport plan has been carried out since 2012, covering three phases: short term (2012-2018), medium term (2019-2025), and long term (2026-2035).

“The government budget can only cover 60 to 80 per cent of the project cost,” said Takashi Shoyama, a JICA team leader. “That is why we need to search for partnerships. Private companies should participate in this project. The government can only allocate $15.3 billion for the estimated cost of $25 billion.”

The final report of the Greater Yangon Urban Transport Plan stated that the government can finance the required budget by leasing lands, collecting car-park fees, and taxes.
Traffic management schemes such as reduction of traffic jam at major intersections and downtown Yangon, upgrading parking space and a five–year traffic clearance program are included in the transport plan.

Source Eleven Myanmar

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”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

.

Looking for foreign investors to invest in your business in Myanmar