Yangon is a very important region because it is the economic hub of Myanmar. Projects implemented and policies laid down in Yangon can have great influence on other parts of the country with good prospects. Economic development in this region will surely bring about development of other regions and states. With a great tradition, Yangon lies on sea, land and air routes. Regarding the tourism industry, Yangon needs to preserve its cultural heritage and create tourist attractions which have no adverse impact on the environment. Yangon is a place for human resource development and it is a strategic point for national security. The city is being expanded, and its economy is also being expanded.
There has been a great migration from all parts of the country to Yangon to find good jobs. Therefore, Yangon welcomes the garment industry, which needs a large labour force, to enter the country. Myanmar’s sea outlets and cheap labour is offered to investors who want to implement industrial zones in Myanmar. It has only one waterway, the Yangon River. Therefore, it is important to maintain the watercourse through discussions with experts, as it also plays a major role in attracting investors. Meanwhile, housing projects are expected to be available at an affordable price, with a long-term installment plan. Plans are under way to turn Yangon into a clean city governed by the rule of law and an economically vibrant city, giving priority to a green economy in the city. All in all, Yangon possesses prospects for a booming economy with local and foreign investment. But we need more responsible foreign investment for Yangon to become a vitally important city, not only for Myanmar but also for other ASEAN countries. We need effective environmental regulations, but also for businesses to abide by regulations and do business responsibly on a daily basis, to limit the pollution in Yangon. Yangon is expected to see development not only in major businesses but also in small and medium enterprises due to the great interest of big international companies as well as SME entrepreneurs around the world. At this juncture, the government’s support for local entrepreneurs is of great importance to be able to compete with foreign firms in every business sector. Only when the country doubles its efforts can it be able to compete with ASEAN countries and keep abreast with the international community.