Yangon CM expects more investment in three sectors


Yangon Region Chief Minister Phyo Min Thein. Photo: Mizzima

Yangon Region Chief Minister Phyo Min Thein said on May 9 that he expects there to be more investment in the real estate, apparels and transport sectors.

He was speaking at the Yangon Investment Forum (YIF 2018).

Chairman of Yangon Region Investment Committee (YRIC) Phyo Min Thein also told media, “We have many people who need housing. If they get long term loans with affordable interest rates they don’t need to stay on the roadside. They can live in these housing projects. This is not a problem only for our country. ASEAN countries have had such experiences between the 1950s and 1970s. So we hope housing projects including low cost, affordable and high cost come here very soon.”

CM Phyo Min Thein clarified his economic aspirations in five sectors namely Trade and Logistics, Industrial Development, Urban Public Transportation Development, Sustainable Urban Development and Energy Sector Development.

He added that factories in the labour intensive garment industry will arrive in Yangon Region and he would try to change the garment industry from the current production of on job orders to garment manufacturers.

Phyo Min Thein said, “There will be a likelihood of an increase in investment in the transport sector. We had more investment last year too because there were many new companies in the Yangon Bus Service (YBS). This is a vivid increase in investment. Similarly we will have an increase in investment in other sectors.”

Yangon Region government hopes to create over 22,000 job opportunities from new investments.

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