Unused plots in industrial zones in Yangon Region will be seized, if they remain undeveloped, said U Than, the Joint Secretary of the Yangon City Development Committee.
There are 29 industrial zones in Yangon Region, and about 60 per cent of the plots are being utilized, while the remaining plots are not being used. If they remain undeveloped after warnings, the plots will be seized.
“Yangon Region has 29 industrial zones, including the Thilawa Special Economic Zone (SEZ). Sixty per cent of the plots are being used by businesses to run operations, some are under construction, and on some, only warehouses and fencing have been built. The regional minister for Electricity, Industry and Transportation is collecting data, and the ministry has also urged entrepreneurs to start operations on the plots at the earliest. If the plots remain undeveloped after the warning, we plan to seize them,” said U Than.
“At present, the responsibility of the management of land on industrial zones is with the YCDC. Therefore, it will keep supervising land operation activities,” U Than added.
Suggestions were invited from the public on the Industrial Zone Bill on 3 May. Twenty chapters and 80 sections have been embodied in the bill. As per Chapter 10 on investor obligations and exemptions, each and every construction project has to be completed by them within a fixed period. If they fail to do so, a reasonable reason must be provided to the respective industrial zone committee, along with the recommendation of the Industry Zone Management Committee. If the reason is not sufficient, their business permit would be revoked, as per rules and regulations.
According to Chapter 11 of the Industrial Zone Bill, businesspersons who hold plots in industrial zones and leave them unused have to seek approval from the authority by forwarding their plans within six months of the law coming into effect. If they fail to complete the project within two years, the plots will be seized by the respective industrial zone committee, and 50 per cent of the land’s value will be reimbursed to them.
Additionally, under Chapter 19 of the bill, business owners can face a maximum sentence of three years’ imprisonment, if they violate any rules.
The amended Industrial Zone Bill was approved by the Pyithu Hluttaw on 3 September.
By Nyein Nyein(Translated by Ei Myat Mon)