Some vacant land plots in two Yangon area industrial zones will be leased out to local and foreign investors

Some of the vacant land plots in Hlaingtharyar Industrial Zone-3 and Shwepyithar Industrial Zone-1 will be leased out to local and foreign investors in dollars, according to the Urban and Housing Development Department.

The department will lease 3.5 acres of land in the Hlaingtharyar zone and 2.5 acres in the Shwepyithar zone.

A supervisory committee made up of government ministers would manage the industrial zones, Yangon Region Chief Minister Phyo Min Thein said on February 1.

The previous industrial zone management committees no longer have authority over the zones, he said.

“Officials need to manage price manipulation of warehouses and vacant lands in industrial zones,” he added.

Industrial zones were established by the government in 1995. Yangon region has 29 industrial zones.

There are 37,076 land plots in industrial zones across the country, including 7,194 vacant plots, according to the industrial policy.

According to figures collected in November 2014, Yangon has 2,339 idle land plots comprising 4,418 acres (1,788 hectares). A total of 1299 warehouses are included in the list. Even after declaring it would seize idle lands by February 1, the then-government did not take any action.

Interested persons can dial 067-407311 and 01-8392522 during office hours from February 26 to March 26.

(Eleven Media Group: http://www.elevenmyanmar.com/business/13484 )

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