Myanmar’s regime is allegedly looking to resume Chinese-backed projects, including a city twice the size of Singapore, following junta boss Min Aung Hlaing’s visit to China last month.
During Min Aung Hlaing’s visit to Kunming in early November, Beijing proposed starting work on the Muse-Mandalay train line and resuming the New Yangon City project, a business owner told The Irrawaddy.
Both projects are parts of the China-Myanmar Economic Corridor to connect Yunnan Province to Yangon New City and the Kyaukphyu Special Economic Zone on the Indian Ocean.
Tycoon Kyaw Win’s firm, Shwe Thanlwin, won the contract to develop the Yangon project, which stalled after the 2021 coup.
Junta-appointed Yangon Region chief minister Soe Thein and Chinese ambassador Ma Jia met on November 28 to discuss Chinese investments around Yangon.
A project source said Min Aung Hlaing lacks the authority to implement the New Yangon City project because his regime is illegitimate.
The project, which was first proposed under Thein Sein’s quasi-civilian government, would be twice the size of Singapore and is part of China’s Belt and Road Initiative.
The 8,100-hectare site is due to include two bridges, an industrial estate and residential areas on agricultural land in Kyimyindaing, Seikgyikanaungto and Twante townships across the Yangon River.
Kyaw Win and another junta crony, Maung Weik, and the ethnically Chinese businessman Shao San were awarded contracts under Thein Sein. The NLD government appointed Serge Pun, also known as Theim Wai, as the New Yangon Development Company (NYDC) chairman.
The Yangon government-backed NYDC signed a US$1.5-billion agreement in 2018 with China’s state-owned China Communications Construction Company Ltd (CCCC) to plan the infrastructure project.
Controversy surrounded the flood-prone location and bribery accusations against CCCC over projects in at least 10 African and Asian countries.
In July 2020, the NLD administration cut the budget to $800 million, reducing the project’s size while encouraging other firms to bid for contracts.
The NLD government received 16 proposals from nine countries, including Japan, Singapore, Italy, Spain and France, in late 2020 to compete against the CCCC’s proposal before the February 2021 coup.
The regime restructured the NYDC’s board of directors in November 2021, assigning Yangon City Development Committee secretary Nyunt Hlaing as the chairman.
