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Govt to Sign Investment Agreement with Hong Kong Company



Yangon Regional Government will sign an investment agreement with a Hong Kong based company for future investment in Htan Dabin industrial zone. The signing will take place on May 10th. The investment is worth about $600 million and is expected to create 150,000 jobs for local people, according to Naw Pan Thinzarmyo, Yangon Regional Minister for Karen Ethnic Affairs.

“There are investors interested in investing in other industrial zones. But we are at the initial state for that. We are not sure that we will sign an MoU with them. However, we do have one company who will sign an MoU, we will work with the company for nine years,” she added.

At the moment, Yangon Regional government is focusing on the garment sector, hotel and tourism sectors, digital economy and the real estate sector of Yangon.

“Yangon Regional government will help the investors with the land issue, electricity, water and drainage system,” said U Myint Thaung, Yangon Regional Minister for Planning and Finance.

Most of the 29 industrial zones in the Yangon Region which has over 800,000 workers including internally migrant workers. The zones which were implemented by the previous governments are not relevant today. Therefore, the regional government started 11 new industrial zones on 1,000 acres of land in 11 townships outside Yangon city.