LOCAL BUSINESSES PROPOSE TO ESTABLISH INDUSTRIAL ZONE IN CENTRAL MYANMAR

YANGON, Myanmar, Local businesses will submit a proposal to the regional government, in Myanmar’s central Magway, to establish an industrial zone there, the official Global New Light of Myanmar, reported Sunday.

The industrial zone was proposed to be located far from the residential area, as the noise, odour and air pollution from existing industries and factories, are affecting the nearby residents.

There are many small scale industries clustering in urban areas of Magway, with over 100 groundnut mills, 50 edible oil mills, noodle, fried bean and roasted sesame mills, as well as, iron and steel businesses.

Close to Magway is an ongoing Myotha Industrial Park, in Mandalay region, being jointly implemented by the Mandalay region government and Mandalay Myotha Industrial Development (MMID) Public Company, with more than 100 plants to be constructed on a 1,000-plus-acre plot within three years.

At present, five plants, including animal feed plants, saw mill, concrete plant and a snow cookie plant, with investments from Indonesia, Denmark, Thailand and China are operational.

So far, investment of about 3.2 billion U.S. dollars, from 56 foreign enterprises, and local investment of 3.75 trillion kyats (2.8 billion U.S. dollars) were approved by the Myanmar Investment Commission in Mandalay region, as of Dec last year.

Source: NAM News Network