Government Renews Pledge to Reclaim Industrial Land From Speculators

The government has repeated its pledge to scrutinise plots of land in industrial zones that have been left inac­tive, and will take action against those they believe are holding onto land in order to sell it on when prices increase, a minister has said.

Col Tin Aung Tun, the Yangon Minister for Re­gional Security, said land owners were “breaking the rules and regulations of the industrial zones” by buying and holding the land purely for specula­tive purposes, rather than because of a genuine busi­ness interest within the zones.

“The owners have left the land inactive and are waiting for prices to go up,” he told a parliamen­tary meeting earlier this month.

The rules and regula­tions, which are set by the Ministry of Construction, say that the land owner has to begin business op­erations inside the indus­trial zones within three months after being ap­proved by authorities.

If they fail to start their business, the Urban Housing Development Department has the pow­er to take the land back from the owner.

Plans to reclaim land from inactive businesses were thought up under the previous government but little has been done since then. The NLD-led government is becoming more proactive about the issue, Col Tin Aung Tun, said.

There are some squat­ters living in inoperative land and some of them are allegedly extorting landowners by refusing to leave without payment, according to Daw Sandar Min, a member of region­al parliament in Yangon.


Source: Myanmar Business Today

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