Notification Order No. 66/2015

The Republic of the Union of Myanmar

The Union Government Office

Notification Order No. 66/2015

6^th Waning of First Waso, 1376 M.E

(7 July 2015)

Termination of the Project

1.         With the aim of contributing the city development work to the building of Yangon into a modern city, the Ministry of Defence invited tender for enabling to carry out development works of the old site of the former National Defence College and No.1 Motor Transport Battalion that are no longer in plan to use and the following companies won the tender:

(a)           Shwe Taung Development Co., Ltd.

(b)           Adventure Myanmar Tours and Incentive Co., Ltd.

(c)           Thukha Yadana Co., Ltd.

(d)           Marga Landmark Development Co., Ltd.

2.         The aforesaid tender-winning companies submitted their requested plans including hotels of international standard, service apartments, department stores, business centres, residential buildings to the Myanmar Investment Commission. The Myanmar Investment Commission scrutinized and issued permits to the companies in accord with the Foreign Investment Law and Myanmar Citizens Investment law.

3.         While the development project is being implemented, some people have become concerned that the project may harm the Shwedagon Pagoda, some scholars forwarded their assessments over the project to the President, some people who are concerned over the project implementation made the request to terminate the project to the President, the Myanmar Investment Commission submitted assessment that the project is not appropriate for further implementation, the Ministry of Defence also asked the project to be terminated, the Government is desirous of carrying out in priority to what do not harm temples and pagodas, religious edifices and ancient cultural heritages on Theinguttara Hill including the Shwedagon Pagoad and the investors willingly agreed over the termination of the project after negotiating; all the on-going projects have been conclusively terminated commencing from the date of issue of this notification.

4.         The government will take further necessary measures in order not to affect and aggrieve the investors who are investing and carrying out in the project due to the conclusive termination of the project.

By order,

(Zaw Than Thin)

Secretary