YANGON — Yangon Region Chief Minister U Phyo Min Thein has announced plans to establish industrial zones in 11 townships on the outskirts of Yangon with the aim of addressing unequal development in the commercial capital.
He unveiled the plan on the sidelines of the Yangon Investment Forum 2018 on Wednesday.
The move aims to bring about equitable development among townships in Yangon Region, the chief minister said. “I want to have industrial zones in those 11 townships. They are lagging behind in terms of development,” U Phyo Min Thein said.
The industrial zones will provide jobs for internal migrants who come to the city in search of greener economic pastures, while also improving local residents’ standard of living, he said.
“We will establish industrial zones in order to reduce development gaps between the townships. We have earmarked 1,000 to 2,000 acres in each of the 11 townships for future industrial development projects,” said U Than, joint secretary of the Yangon City Development City.
He added that farmland would be purchased for the project, at fair prices.
“We will seek approval from the Union government to use land owned by local farmers for industrial purposes, and compensate the farmers according to market prices,” U Than said.
According to the plan, owners of farmland taken by the government for industrial development will retain ownership of 20 percent of the land, and the government will control the remaining 80 percent.
U Phyo Min Thein said that “Businessmen [earlier] bought land from farmers and applied for permission to use that land for other purposes. The farmers sold the land for just 2 million kyats per acre or so. After the businessmen sought industrial-use permits for the land, the value of the land soared to 100 million kyats. So the farmers are really sad.”
The YCDC has 25 plots of land above 3 acres in area and 120 plots that are less than 3 acres available for lease to private investors for the purpose of establishing factories and workshops, U Than said.
The plan calls for industrial zones to be built in Hmawbi, Taikkyi, Hlegu, Htantabin, Twante, Kawhmu, Kunchangon, Thanlyin, Kyauktan, Kayan and Thongwa townships.
