Myanmar government will establish a land bank to provide easy access to the information about available land for foreign investors

The Government will establish a land bank in order to provide information about available land for foreign investors, this is so they can have easy access to information when deciding where to make investments, U Thaung Tun, Union Minister of the Ministry of Investment and Foreign Affairs, said.

“Myanmar makes up the biggest land area in Southeast Asia in terms of area and has a lot of land available for industrial investments. However, there are a lot of problems regarding land use. We are trying to provide information on how to acquire and rent the land, and how to change the status of the land into industrial use in accordance with land use policy and Myanmar Investment Law,’’ he said.

In order to form a land bank, the government will collect the data of usable land across the country and change it in to electronic data. By doing so the government can provide accurate information about land which will ultimately improve Public Private Partnership and foreign investments.

“One of the biggest challenges for foreign investments is to build factories here, because land is hard to get, and the land prices are too high. Some foreign investors are making feasibility studies and never come back because of these,’’ Dr. Myint Sein, Vice President of Myanmar Fishery Federation, said.

There are cases where many of the local investors have acquired land plots in industrial zones and the zones are implemented; however, the some of the land plots are left idle. Therefore, the government will scrutinize land use in industrial zones and will take back the land if it is not used for anything.

The government is actively trying to overcome land issues such as squatters in wildland and land ownership issues, U Thaung Tun said.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/myanmar-establish-land-bank-manage-information-about-land-use )

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