23 june
YANGON is where the majority of businesses and investments were situated and in addition to having good road, water and air transport, trade can be conducted easily locally as well as internationally. That was why a great numbers of projects were being implemented in Yangon as it is developing as a business capital of Myanmar.
Total of 80 projects
A total of 80 projects were identified in the Yangon Investment Forum held in Yangon in May. Yangon Region govern-ment had included these 80 projects in the project bank and had introduced it to local and foreign businesses.
The projects consist of new town pro-ject, housing projects, establishment of new industrial zones, a new Yangon port etc. in which the Yangon Region govern-ment is also participating in. Following are some of the projects.
New Yangon City Development
New Yangon Development Company Ltd. (NYDC) proposes to develop a New Yangon City to the west and south of Yan-gon. NYDC is 100% owned by the Yangon Region Government and is an entity in-corporated under the Special Companies Act. It was established to undertake the development of New Yangon City. For Phase 1 of the Project, works in the New Yangon City is split into six groups based on the types of facilities to be developed consisting of bridges, roads, power, indus-trial zone, water and wastewater. Phase 1 is developing 88 sq. km. of land west of central Yangon across Kyimyindine Town-ship in Seikkyi/Khanaungto, Twantay, Hlinethayar townships in Yangon Region.
The expansion of Yangon city across the river is a strategic initiative to intro-duce new development land for growth. Much of the recent expansion of Yangon had been towards the north and the north-west. This project would be a major push towards expanding to the west in phase 1 and thereafter to the south in phase 2.
The project mission is to establish New Yangon as a hub of growth and inno-vation at par with other cities in Southeast Asia by harnessing local potential based on international best practices.
Some of the key goals of New Yangon City include:
•Creating a future ready industrial eco-system that allows for incrementalgrowth towards higher-order sectors
•The city should be home to over 900,000jobs in fully built state which include pri-mary, secondary and tertiary sector jobs
•The implementation framework shouldallow participation of private sector
This project is the most ambitious of all the projects lined up for Yangon Re-gion and would have the biggest impact on its future.
A member of the consortium Singa-pore-listed Oxley Holdings said the project is a mixed development project comprising a new central transportation hub that inte-grates rail and mass transit, surrounded by amenities of housing and commerce cover approximately 25.7 hectares, or 63.5 acres of which 1.09 million square meters of floor space will be developed. The project site is around Yangon Central Railway Station in Yangon’s city centre. The consortium esti-mates that the project will create 100,000 jobs for local construction workers during the construction stage and many more once completed.
Yangon Elevated Expressway
A Pre-Bid Conference on Phase 1 of the Yangon Elevated Expressway project was held in May 2019 at Nay Pyi Taw where International Finance Corporation and applicants who meet qualification criteria for the project attended the con-ference. Phase 1 of the project is 27.5 kilometers long and the entire 47.5 km long project will be implemented through a public private partnership. Tender winning applicants will be announced in 2019 June/July. The project aims to reduce traffic congestion in Yangon and improve connectivity for businesses and communities. The project is expected to begin in 2020 July and construction is expected to be completed in 3 years. The 47.5 km road will connect downtown Yan-gon, Yangon Port, Yangon International Airport, Mingaladon Industrial Park and the Yangon-Mandalay expressway.
Yangon Elevated Railway
In December 2018 a Union level official said a detailed feasibility study was being conducted to build an elevated railroad in Yangon. The official said two elevated railways were being considered and the matter was being coordinated with Japan International Cooperation Agency. Even though it was still under discussion, the official said the project will be implemented.
A local media reported in January 2019 about a foreign company propos-ing a US$ 1.5 billion elevated railway in Yangon. In February 2019 Yangon Re-gion minister for Kayin Ethnic Affairs Naw Pan Thinzar Myo who leads the Yangon Region Government’s plan to carry out projects in Yangon region this year confirmed of welcoming an initiative to construct an elevated railway if the Union Minister decides to pursue it. She explained that the matter was submitted to the regional investment committee and the matter will be submitted to My-anmar Investment Commission and the Pyidaungsu Hluttaw. According to the company’s proposal, the elevated railway system will ferry 300,000 commuters daily. There were currently 2.8 million regular commuters using motor vehicles and 100,000 using the existing train. If the elevated railway system will ferry 300,000 commuters, there’ll be at least 400,000 commuters using trains by then and this will definitely ease the daily commute of several million Yangonites.
By Zaw Min
