Yangon aimed to complete USD $ 120 million Nyaung Na Pin industrial Zone by 2025

Yangon is aiming to complete the $120 million Nyaung Na Pin Industrial Zone located in Hlegu Township, Yangon Region, according to U Set Aung, member of Myanmar Investment Commission.

The project is being implemented by KMIC Development Company Limited and is jointly established by the Ministry of Construction and Korea Land and Housing Corporation.

“Once the project is finished, companies and industries from Korea and other countries will come and make investments,”he added.

The 500-acre industrial zone will include a research and development center, training schools, housing and office buildings.

KMIC Development Company Limited received approval from the Directorate of Investment and Company Administration (DICA) in March 2019.

South Korea is the fourth biggest investor in Myanmar, since 1998 the country has made 173 investments totaling over $3 billion, according to data from the Directorate of Investment and Companies Administration.

Foreign investment totals into other industrial zones are $12 million for the Mingalardon industrial park, $167 million for the Kyauktan industrial zone and $28 million for an industrial zone in Nyaung Wine village located in the Ayeyarwady Region.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/yangon-aims-complete-120-million-industrial-zone-2025 )

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