INVESTORS KEEN TO PARTICIPATE IN MAJOR YANGON REDEVELOPMENT PROJECT
Investors from China and Hong Kong are keen to participate in the New Yangon City Project, said the New Yangon Development Co (NYDC) yesterday. To invest New Yangon City Project, according to New Yangon Development Company (NYDC) CEO Office said on December 5. A statement issued by the NYDC CEO’s office yesterday said Ning Jizhe, vice chair of the National Development and Reform Commission of China (NDRC) met with Yangon Regional Minister U Phyo Min Thein last month during an official visit and discussed the implementation of the New Yangon City Project. Ning reiterated China’s support for the project during the meeting. This is significant as considerable investments will be required for the construction of the basic infrastructure of the new city, NYDC CEO Serge Pun said. Last week, a delegation from the Hong Kong Trade Development Council also visited Yangon. Among the delegation were industrialists and manufacturers who expressed an interest in investing in New Yangon City as well as migrating existing manufacturing facilities from China to Myanmar.
(Source: The Myanmar Times, December 12, 2018)
The “New Yangon City” project poses growth opportunities to positively facilitate Downtown decongestion. Having infrastructure in place is key in successfully linking these future and modern urban zones from the already frenetic business district. Industrial corridors are as similarly imperative. Hence, a superior and well-thought zoning master plan that forms synergistic relationship must come as a top of mind priority.