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New members on New Yangon City project board of directors

Early this month, New Yangon Development Co (NYDC) Chief Executive Officer Serge Pun announced via that the Yangon Region government recently decided to reorganise theNYDC’s board of directors of.

The announcement made on the NYDC’s website stated that new members had been appointed to the board.

Yangon Deputy Mayor U Soe Lwin has assumed the role of chair of the board, replacing Yangon Minister of Electricity, Industry, Transport and Communication Daw Nilar Kyaw. Daw Nilar Kyaw is also a member of the Myanmar Investment Commission.

Yangon City Development Committee Secretary Daw Hlaing Maw Oo was also named as director of NYDC, replacing Yangon Minister of Agriculture, Livestock, Forestry and Energy U Han Htoon.

Asked about the new appointments, U Serge Pun told the Myanmar Times via email that new officials were required as the New Yangon City project will soon have to have greater integration with Yangon’s municipal administration making it more appropriate to replace directors representing the government with officials with experience in the Yangon City Development Committee.

“We extend a warm welcome to our new members, and I am confident that their expertise and experience will benefit in the development of the first phase of the New Yangon City,” U Serge Pun said in the email.

In March last year, the Yangon Region government announced the launch of the New Yangon Development Company and tasked it to develop 8000 hectares of land west of central Yangon across from Kyeemyindaing township as part of the first phase to build an urban industrial district that will help to create up to two million new jobs.

U Serge Pun also said that over the past two months, there have been a growing number of enquiries from manufacturers seeking to move their manufacturing base to Myanmar.

“This is a crucial opportunity to help us gain economic momentum and remain competitive with neighbouring countries such as Bangladesh, Laos, Cambodia and Vietnam.

The main problem we are facing however is the urgency in which these manufacturing companies wish to relocate. As such, we are working to arrive at a plan that can balance the expectations of these manufacturers with the expedition of completing the first batch of industrial estates while ensuring that all parameters comply with international standards and regulations,” he said.

Source: Myanmar Times

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