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Yangon’s “new city” authority to publicise project documents in bid to improve transparency

The authority responsible for Yangon’s new city development has vowed to release the project documents of selected tenders for public scrutiny, and allow third parties to challenge the awarded party. On May 2, the government-owned New Yangon Development Company Limited (NYDC) announced that the NYDC signed a framework agreement with China Communications Construction Company (CCCC), […]

Yangon works with China to lay down development plan for new city project

New Yangon Development Company (NYDC) on Monday signed a framework agreement with China Communications Construction Company (CCCC) under which the two parties will carry out the necessary surveys and studies needed to develop and implement a new city in Yangon. NYDC is backed by the Yangon Regional Government, while CCCC is one of the largest […]

Investor interest in New Yangon City project rises, more FDI expected

Since its launch in early April, investor interest in the New Yangon City project from China, South Korea and ASEAN has been on the rise, Yangon Chief Minister U Phyo Min Thein said during a press conference at the 2018 Yangon Investment Forum on April 20. The Yangon Region Government is now courting foreign direct […]

Yangon’s new city vastly ambitious but govt’s role called into question

YANGON’S government has formed a company to develop a landmass twice the size of Singapore as a re-launch of the “new city” development project abandoned last year. While officials has gone as far as comparing the project’s ambition with the urban development of China’s Shenzhen, a business leader has called into question why the government […]