Government to Give Investors Equal Rights at New Industrial Zones, Satellite Townships

The government has plans to build new in­dustrial zones and satel­lite townships across the country, U Kyaw Win, the minister for planning and finance, told an invest­ment conference.

Under the plans, foreign and local investors in old industrial zones will also have equal investment rights in new projects, added U Kyaw Win.

“The existing industrial and economic zones are still being implemented and some have been dis­qualified. It is quite dif­ficult to upgrade existing zones’ quality and stand­ards,” U Kyaw Win said at the conference.

Progress on several of the country’s largest eco­nomic zones has been marred by setbacks.

The Dawei Special Eco­nomic Zone (SEZ), which includes a deep sea port, has faced numerous set­backs in recent years amid widespread opposition from local communities. The joint Myanmar-Thai project would link the Andaman Sea to Bangkok and the Gulf of Thailand.

The Chinese backed Kyaukphyu SEZ, launchedin 2013, will cover more than 4,000 acres and in­clude an industrial zone, a deep-sea port, and a resi­dential zone. But progress on the industrial zone has been slowed by long-running resentment over land disputes and com­pensation from locals.

There are 29 industrial zones across the coun­try and most of them are in Yangon. The My­anmar government has announced it is working together with the United Kingdom to upgrade in­frastructure at several of these industrial sites.

 

Source: Myanmar Business Today

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