The Yangon Regional Government invites proposals from developers to submit for the Yangon New City project by 18 August

The Yangon Regional Government has invited bids from interested developers for the Yangon New City project, according to an announcement in state-run newspapers.

Tender forms are available at the regional government office at a price of K50,000 per document, and the proposals will have to be submitted by August 18.

“We have transparently revealed the 2040 Greater Yangon Project in the presence of the stakeholders at the regional parliament sessions and got approval. We will vet the bidding companies and continue implementing the project. Only local companies will be granted concessions,” U Than Myint, Yangon Region Planning and Commerce Minister, told Myanmar Business Today.

The project was first revealed to the parliament and the public in 2014 by Yangon Mayor U Hla Myint under murky circumstances, with the developing rights already granted unilaterally by the regional government to a little-known company called Myanmar Say Ta Nar Public Co. The project was later suspended after opposition from MPs, civil societies and the public.

“The project was rejected when it was first submitted because the actions of the regional government were unconstitutional. The only informed us after they have planned the whole project. As for the 2040 Greater Yangon Project, I approve of it and voted for it,” said U Kyaw, a Yangon Region Parliament Member.

The Regional Parliament Member representing Kyeemyindaing township submitted the notion to approve the Yangon Expansion Project to be implemented as soon as possible, which was approved through a secret ballot system that received 114 approving votes and 10 opposing votes.

The tender invitation requires bidders to submit plans for the socio-economic development of local communities, plans to source technology and funds, and a deposit of K5 billion.

The project will be developed on the other bank of western township of Kyeemyindaing, across Hlaing River with an estimated cost of $8 billion, with 70 percent expected to be finished in three years, the Regional Government said during a session of the Regional Parliament.

Source: http://www.mmbiztoday.com/articles/gov-t-calls-tender-yangon-new-city

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