Bago Regional Government will retake land location in Bago Industrial zone in early 2019 if the investors haven’t implemented the project on the designated land

In early 2019, the Bago Regional Government will retake land located in the Bago Industrial Zone if the investors have not implemented the project on the designated land.       

Under the former President U Thain Sein, the government allocated 800 acres of land to investors to implement Bago Industrial Zone, in Bago city. But most of the land plots are still left without any construction or progress; therefore, the regional government analyzed it by categorizing them in to three groups: Group (A) includes those who have implemented or are implementing a project; Group (B) includes those who are in thr construction process or have not received industrial permits and Group (C) include those who have not implement anything at all.

“There some businessmen who need to re-apply for industrial permits to work with other partners operating in Bago Industrial Zone. We will re-take lands allocated to investors, who did not implement the project, by grouping into three. Then government will decide whether to give priority to them or to new investors when the lands are used for the next projects,’’ said Dr. Saw Nyo Win, a spokesperson of Bago Regional Government and Regional Minister of Resources, Forest, Environmental Conservation and Municipal.

Investors bought land at the price of K40 million per acre under the previous administration. Out of 85 investors, whom the government leased the land to for a long-term contract, there are only seven investors, who have actually implemented projects on the land they got and 34 investors who are in the construction process, while 19 investors have not implemented anything, and 26 investors have built houses on the land leased for industrial use. 

“The land in the industrial zone worth over K100 million in the market. However, there are a lot of land that has been left empty or resold to another person. This is a loss to the country. On the other hand, government must provide electricity and infrastructure such as road,’’ a businessman in Bagon City said. 

The preliminary contracts states that the government shall re-take land if investors do not put in fencing, install a power meter, apply industrial license, and get a municipal license in six months or if the related projects start operating in 2 years. 

“The new government should re-take the land which is not used for anything as early as possible. Because when they resell the land, they can sell at much higher prices which foreign investor think are too expensive. This leads to not implementing business. If the government retakes them and sells it at a reasonable price, more investors will be interested in investing here and that subsequently creates jobs for local people,’’ U Khin Maung Yee, a resident in Bago City, said. 

Bago Regional Government has assured that they will support the investors who will implement projects in Bago Industrial Zone

(Myanmar Business Today: https://www.mmbiztoday.com/articles/government-ready-retake-land-bago-industrial-zone )

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