Myanmar: Agreement to implement Yangon Amata Smart and Eco City signed
NAYPYITAW (Eleven Media Group/ANN) - The project for implementation of Yangon Amata Smart and Eco City was signed in Nay Pyi Taw yesterday, aiming to attract more foreign investments, as well as boost the industrial, foreign export and human resources sectors of the nation.
A signing ceremony for implementation of Yangon Amata Smart and Eco City was held at the Kempinski Hotel in Nay Pyi Taw yesterday.
The Urban and Housing Development (UHDD) and Amata Asia(Myanmar) Limited also signed a land lease agreement on the occasion.
The project aims to attract more foreign investments, to boost the industrial, foreign export and human resources sectors of the nation, in addition to being a major source of assistance to socio-economic development.
Yangon Amata Smart and Eco City Limited will implement a Smart and Eco City project with an investment of US$ 1 billion on 2,000 acres of land near Laydaunkkan Village between East Dagon and South Dagon Townships in Yangon Region and it will create up to 33,000 jobs.
“33,000 job opportunities will be created through the establishment of the industrial zone. Moreover, the government can earn tax yearly as well as promote foreign exports and human resources sectors and socio-economic development,” said Han Zaw, Construction Minister.
Yangon Region Minister for Electricity, Industry and Transportation Nilar Kyaw said that the Yangon Region Government would provide the needs concerning Yangon Amata Smart and Eco City project.