International tenders would soon be invited to develop Mayangon Township, an already busy business district of Yangon, into the international economic zone, state-owned newspaper Myanma Alinn reported.
Authorities are compiling the tender invitation which would be announced in this July.
Yangon Region Government, Yangon City Development Committee and Japan International Cooperation Agency have selected in the area near Min Dhamma pagoda in Mayangon Township.
The site is within easy reach from every part of Yangon and the area of 400 acres.
The initial project will take place on the land of 50 acres.
The project of “the second commercial city” will feature hotels, shopping malls and housing projects.
Japanese firms are investing in Thanlyin special economic zone in the vicinity of Yangon and Korean companies are eyeing investments in developing another special economic zone in Dalla on either of Yangon River within a few minutes from downtown Yangon if a bridge spanning Yangon River gets off the ground.
source: myanmar update
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