A groundbreaking ceremony for six factories at Maubin Industrial Park, which included the farmer stakeholders, was held on 9th May at the construction sites.
Maubin Industrial Park is being established on 250 acres of land in Maubin Township, Ayeyawady Region. The projects aim to enhance the socio-economic status of the local people, create more job opportunities, attract more foreign investments, improve the regional industrial sector, effectively use local human resources and produce value-added products, it is reported.
Maubin Industrial Park was initiated with 26 shareholders from Maubin Development Company Limited which has now been turned into Maubin Development Public Company Limited, with 134 shareholders. This Maubin Development Public Company has established a joint venture with Shanghai Yangon Investment Company Limited. Shanghai Co will hold 55 per cent of shares while Maubin Development Public Company will contribute 45 per cent of shares.
The project will include 42 factories relating to clothing, three factories of foodstuff, three factories of household goods, one literature and entertainment factory, one electric product factory, for a total of 50 factories. With a total estimated investment of Ks291,213 million, around Ks269,100 million of investments are expected to be put into this project while the infrastructure construction is expected to spend Ks22,113 million. With the construction of the factories, job opportunities can be created for 77,000 locals.
“There is no heavy industry, only agriculture and livestock in Maubin. Therefore, we have come up with an idea of implementing the industrial park in this township. The government also vows to assist us in construction of the big factories jointly implemented by the entrepreneurs”, said U Yan Win, the chairman of Maubin Development Public Company.
“What makes Maubin Industrial Park unique is that some shares are held by farmers. The farmers are happy to be a part of this project. This industrial park will help effectuate the development of the region, creating much more job opportunities for local people”, he continued.
“The deep sea ports can be constructed in our region. We have planned to conduct Chinese language course for the factory labourers in order to have good communication with the foreign investors”, he added. In Myanmar, Yangon is the first Industrial Park city and the second one is in Mandalay. Maubin Industrial Park will be the third one. This Maubin Industrial Park project is slated to be completed within three years, according to the Maubin industrial zone.
The groundbreaking ceremony was attended by U Aung Htoo, the deputy Minister for the Commerce Ministry, officials from Ayeyawady Region, chairperson and officials from Shanghai Federation of Chambers of Commerce and Industry and Maubin Development Public Company.
By Soe Win