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Yangon Government Submits Economic Plan to Parliament

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An economic plan for 2017-2018, which aims to increase Gross Domestic Product by 8.5% was submitted to the Yangon Region Government by the Minister of Planning and Finance, Myint Thaung.

The minister explained that the draft of the plan was designed to match the budget of the Yangon Region. It was drafted together by the Yangon Region Government and the Yangon City Development Committee. The Japan International Cooperation Agency, Korea International Cooperation Agency, Agency for French Development, and Department for International Development were also involved in the plan.

The plan involves strategic development plan for Southwest of Yangon, transportation, industrial zone, and preserving heritage. Estimated GDP growth rate in various sectors are mentioned: 0.03 per cent in agriculture, 4 per cent in livestock and fisheries, 3.2 per cent in energy, 5.7 per cent in mining, 10.9 per cent in industries, 9.2 per cent in electricity, 4.5 per cent in construction, 8.9 per cent in transportation, 5.1 per cent in communications, 8.5 per cent in monetary, 4.5 per cent in social and management, 16.8 per cent in services and 7 per cent in trading.

Myint Thaung concluded by saying that that the master plan will be implemented based on the Public Private Partnership model designed by the Asia Development Bank.

 

Source: Eleven Myanmar

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