Measures will be taken to build more circular roads in the city of Yangon and approve business investments in its new towns, said U Than, joint secretary of Yangon City Development Committee.  

“We should see more investments in new towns outside the city centre. This is why we are planning to build more circular roads,” he said.  

The plan aims to see greater development along the Yangon circular railroad and prevent dense population in downtown areas because Yangon is set to become a megacity by 2040.

“Yangon’s population will grow to over 10 million by 2040. Our plan is aimed at seeing more development along the circular railway route,” U Than added.

According to a press conference on the sidelines of Yangon Investment Forum 2018 held on May 2, China and Korea have discussed with Yangon Region Investment Committee establishment of industrial zones in the region.

“South Korea and China have discussed with the committee to establish industrial zones in Yangon Region,” said U Myo Khaing Oo, joint secretary of the investment committee.

Currently, the committee is reportedly planning to approve a foreign investment of about US$5 million within one and a half months.