Gov’t to Push to Reclaim Unused Industrial Plots

The government needs to step up inspections to take back vacant plots of industrial land that are not being used for the purpose of business, an official report submitted to the parliament suggested.

Recently, the union government announced that they will take back unused plots of land in industrial zones but apparently there has been no action from the government. The Yangon regional government recently announced that they will form a committee to take matter into its own hands.

Besides increased scrutiny, the state and regional governments need to draw a long-term industrialisation development plan, which complies with international standards and leads to national prosperity, U Myo Aung, deputy minister for industry, said.

“There is also need for developing technology, investment and human resources to attract foreign investors and technicians to invest in the industrial zones with international standards.

The industrial zones [here] lack international standards as they are not connected to any marine ports,” he said.

U Myat Thin Aung, chairman of Hlaingtharyar Industrial Zone, said that the holding of industrial zone plots without doing any business is hurtful to other investors and the administration needs to take action against speculative investors who invest in real estate but do not develop their land.

Likewise, Myanmar Industrial Development Committee needs to collaborate with the regional government to implement the industrial zones with clean and proper drainage systems, he added.

Source: Myanmar Business Today

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.

 Opportunities from COVID19


Looking for foreign investors to invest in your business in Myanmar