Myanmar to build more industrial zones


Myanmar to build more industrial zones

Eleven Newsmedia, 28 Dec 2013

The government is planning to build more industrial zones in the coming future as part of the strategy to contain the growing land prices, according to officials.

“The matter of higher land prices is very difficult to tackle. [The government] is currently planning to create more industrial zones in the future. Land prices go up and down according to the market’s supply and demand. Higher prices will go down when a wanted land plot is inexpensively available in the market. So it’s now considering to create more industrial zones. Some are now under preparations in Myawaddy, Hpa-an and Bago,” said an official from Myanmar Investment Commission (MIC).

“It’d not be like before. A developer will be responsible for the whole process of creating an industrial zone. MIC can’t handle the matter. It’s according the market demand. It’s good to create more industrial zones. It can satisfy the higher market demand to an extent,”

The 201-acre wide Myawaddy Industrial Zone, currently under development in south-eastern Myanmar will finish its first phase in 2015.

Myawaddy is closely located to Mae Sot in Thailand where about 300,000 Myanmar migrant workers reside. The main objective for implementing the zone is to be able to employ Myanmar migrant workers after 2015. At present, Myanmar workers are working at the zone.