Myanmar and Japan will sign a MOU to build Aung San National Green Park in Yangon which will be an international-standard mixed development project near the Kyaikkasan Stadium in Tamwe Township

Japan and Myanmar will sign and an MOU to develop and international-standard mixed development project near the Kyaikkasan Stadium in Tamwe township, Yangon, Daw Khin San Hlaing, member of the National Economic Co-ordination Committee, told The Myanmar Times.

On August 19, the government met with residents of Kyaikkasan to explain the project, which will include international-standard sports and recreational facilities as well as a business complex. 

The new Aung San National Green Park will involve Japan investing in the sports and recreational area, while Myanmar will focus on building the business complex, which will be developed over one third of the 100 acre Kyaikkasan sports area. 

The government will lease the land at Kyaikkasan for US410 million per year for the business complex. Meanwhile, Japan will pay Myanmar $100 million in national development funds as well as an additional $100 million for the building materials and infrastructure needed for the sports area, according to the National Economic Co-ordination Committee.

The project had actually been mooted during the former government’s term. At the time, both sides had agreed to develop a sports complex and Central Business District. The project involved Japanese mall operator Aeon Co investing in a supermarket and shopping center in the area, according to the website of the Ministry of Natural Resource and Environmental Conservation in 2015. However, negotiations were not completed and development of the project did not get off the ground. 

Based on the new government’s relationship with Japan, discussions to develop this project have since recommenced.

(The Myanmar Times: https://www.mmtimes.com/news/myanmar-japan-build-aung-san-national-green-park-yangon.html )

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