New Yangon development project to be showcased at Invest Myanmar Summit 2019

THE Invest Myanmar Summit 2019, which will be held on 28 and 29 January, will showcase one of the most prominent projects — the development of New Yangon City — by the New Yangon Development Company Limited (NYDC).

The NYDC is 100-per cent owned by the Yangon Regional Government. Its vision is to make Yangon Myanmar’s “Productive City, Livable City”, and create an estimated 2 million jobs.

At the upcoming summit, a team from the NYDC will brief investors on four key areas, namely, public transport, municipal waste, the Convention Center, and telecommunications, according to the NYDC.

The NYDC held a workshop on Phase 1 of new Yangon City’s master plan in late 2018. At the workshop, AECOM Singapore explained the first phase (draft) of the master plan, including strategic flood risk assessment, and traffic and transport planning. The second phase (draft) of the master plan will come out soon. After the master plan is finalized, the NYDC will call for suggestions.

This year, more than 120 regional and private investment opportunities, worth over US$3 billion, will be showcased at the summit, offering investors direct insights into investing in Myanmar.

The summit seeks to explore potential business opportunities in Myanmar for local and foreign investors. Held in collaboration with the government and the country’s private sector, the summit aims to attract greater foreign investment to Myanmar.

The National Project Bank for strategic projects, in line with the Myanmar Sustainable Development Plan, will be launched at the summit.

“The summit will act as a platform for businesses to meet with potential partners and for investors to gain access to national, regional, and private sector business projects,’’ said U Wai Phyo, the chairperson of the Invest Myanmar Summit.

The two-day summit will see participation from ministries, regional governments from the country’s nine states and regions, and professional organizations. Investors from Australia, China, China’s Hong Kong, India, Japan, South Korea, Singapore, Thailand, the UK, the United States, and the European Union are expected to attend the summit.

The summit is targeting the manufacturing, garments, electricity and energy, tourism, education, food processing and fisheries, healthcare, infrastructure, and property sectors as they can have a great impact on job creation and livelihood enhancement.

GNLM

(Translated by Ei Myat Mon)

Ref: The Global New Light of Myanmar