Yangon to focus on construction of deep sea port, new SEZ
U Phyo Min Thein speaks at the Yangon Investment Forum on May 9. Aung Htay Hlaing/The Myanmar Times
At the Yangon Investment Forum yesterday, Chief Minister U Phyo Min Thein said the Yangon Regional Government will prioritise the construction of a new deep sea port and Special Economic Zone (SEZ) in the city.
Once complete, the port and SEZ will help expand trade and encourage the inflow of foreign currencies, he said.
Some 50,000 acres of land area near Thanlyin, Yangon, has been earmarked for the development of both the port and SEZ. “We need an international standard deep sea port as 90 percent of national sea trade relies on Yangon’s ports.
Currently, river depths are too low to accommodate international ships,” U Phyo Min Thein said.
He added that several international firms have already commenced discussions with Yangon on plans to develop the port, which will be developed on a third of the 50,000-acre plot of land.
Meanwhile, the SEZ, which will include space of an industrial zone, power plants as well as commercial and residential areas, will be developed across the remaining space.
Another 29 industrial zones will be developed in the outskirts of Yangon. The government will be involved in the management of each zone and it will also provide the needed power supply, infrastructure and waste management.
The new industrial zones will developed at Kwinchankone, Kawhmu, Twantay, Thanlyin, Kyauktan, Khayan, Thonekhwa, Taikkyi, Hmwabi, Hlegu and Htantabin. These will be developed within the next 3 years, said U Than, joint secretary of the Yangon City Development Committee.
The YCDC will also be leasing out land to interested investors. In total, 25 plots of land above 3 acres in size and 120 plots that are below 3 acres will be available for lease. Investors can lease whole plots of the land or co-invest with the YCDC.
The lands, which are located at Dala, Seikkyikhanaungdo, Hlaingtharyar, Shwephithar, Mingalardon, Dagon East, Dagon North, Dagon South and Dagon Seikkan, will be leased out between $5 and $13 per square meter.
At Ahlone, Kyeemyindaing, South Okkalapa, North Okkalapa, Thingangyun, Tharketa, Aawbon and Insein, land will leased out at $26.45 per sqm.
Meanwhile, at Pabedan, Kyauktada, Latha, Lanmadaw, Seikkan, Botahtaung, Pazundaung, Dagon, Sanchaung, Bahan, Mingalartaungnyunt, Tamwe, Yankin, Kamaryut, Hlaing and Mayangone, the land will be leased out at $39.68 per sqm.