By Nyein Nyein
Some local and foreign investors are interested in industrial estate development sector, said Director-General U Thant Sin Lwin of the Directorate of Investment and Company Administration.
At present, domestic, foreign enterprises and joint ventures are discussing to invest in industrial estate development sector.
“We are preparing to have readiness for investments in the industrial zone development sector. We had discussions regarding this, but any proposal is not received yet,” he said.
In the current fiscal year 2019-2020, zero investment is found in the industrial estate development sector.
During last fiscal, there was Korea-Myanmar Industrial Complex project implemented by KMIC Development Co., Ltd on 558 acres of land in Hlegu Township, Yangon; and Development and Operation Project of Smart and Eco City and Related Businesses by Thailand-based Amata Group on 2,000 acres of land near Dagon Myothit (East) and (South) townships.
The construction of those projects started this year.
The real estate development sector attracted K248 billion in the 2011-2012FY, K51 billion in the 2013-2014FY, K14 billion in the 2014-2015FY, K260 billion in the 2015-2016FY and K36 billion in the 2018-2019FY, he added. (Translated by Ei Myat Mon)