MP calls on Yangon to convert idle buildings and land into money earners, job generators

A regional legislator has proposed that the Yangon government seizes idle buildings and land plots and turn it into productive assets that would not only earn income for the government but also generate employment for the people.

MP U Hla Htay from Mingalar Taung Nyunt township noted in his proposal to Yangon Region Parliament on Tuesday that at present there are many unused buildings and land plots all over the region, which needs to be returned to the state.

The legislator said that by not using the land and buildings the private owners did not follow the conditions set by the government when these assets were sold to them at a cheap price; which is to put these land and buildings into productive use.

“To my knowledge, state-owned buildings and land plots were bought by private owners at cheap prices and these private owners were selling and leasing these to the other people at higher prices,” said U Hla Htay.

Some people were able to buy state-owned buildings, land plots in industrial zone, farmlands and project lands but did not put these into productive use. The government lost so much unrealised profit, he said.

‘’There are some private owners who run business in these buildings and lands, and the government earned taxes and money and created jobs for citizens,” U Hla Htay said. “But so many state-owned buildings and lands which were sold to private owners remain idle cause big loss to the government.”

‘’I insist that the government should seize these former state-owned buildings, land plots and lands if the private owners did not do any business on them and I submitted a proposal to parliament to this effect,” said U Hla Htay.

Daw Nilar Kyaw Regional Minister for Electricity, Industry and Transportation agreed to discuss the proposal in the Yangon Region parliament on October 11.

Source: Myanmar Times

To see the original article click link here

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.

.

To evaluate the various segments of the market that you could possibly enter base on your competencies you can do a Custom Market Entry Strategy Research. You can see a sample report at page “Actual Sample of Client Report”. Click here to go to page.

.

Do you know that IE Singapore is giving ≤ SGD 20, 000 support under the MRA Grant and > SGD 20,000 under the GCP Grant for Singapore companies to venture into Myanmar? To learn more click here.

.