Yangon’s new town plan expected to create about 900,000 job opportunities

The intended area for Yangon’s new town plan will cover up to 168,000 acres, and 20,000 acres of which will be used for the first phase and it is expected to create about 900,000 job opportunities, accord to the Socio-Economic Mater Plan of New Yangon Development Company.

New Yangon Development Company (NYDC) hired top management firm McKinsey & Company to draft Socio-Economic Master Plan (SEMP). NYDC stated that the draft was finalized at the end of June. UK’s Department for International Development (DFID) will provide financial aid for SEMP for the project which will create 2 million job opportunities. McKinsey has conducted a wide range of surveys and assessments and has consulted with stakeholders directly or indirectly, Myanmar Business Today said.

The huge job opportunity is the same as the currently-appointed employment in Yangon and it is a very gigantic expectation, the SEMP said.
In the first phase of Yangon’s new town plant, it will provide 600,000 to 900,000 job opportunities. Initially, 400,000 to 600,000 job opportunities have been expected to be provided on an area of about 20,000 acres (80km). Employments will be available on mass production enterprises and construction in the early years.

Infrastructures must be first established. Industries and economic enterprises can move to Yangon’s new town in the first batch. Job opportunities will be increasing in the later years.

In the first vision of creating 2 million job opportunities, 200,000 to 300,000 job employments will go to supply chain sector. For instance, if a foodstuff factory is constructed, farming-related materials have to be used. Job opportunities will be possibly created because of demand.
In the second phase of the project, 1.2 million job opportunities are expected on 148,000 acres (600 square kilometer), according to the SEMP.

SOURCE: ELEVEN MYANMAR

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