Yangon will be a mega city if all projects are being implemented in Yangon Region by 2040, said Phyo Min Thein, Chief Minister of Yangon Region at a meeting to explain about Yangon Project Bank for the future projects of Yangon on June 3.

“We have medium term plans till 2020 and long term plans between 2020 and 2030 and 2030 and 2040. We expected Yangon will be a mega city if all projects are being implemented by 2040. We need to invite projects and investments in line with the urban development,” he said.

Moreover Yangon may be a logistic hub to connect the country and the world and it needed new port, new special economic zones and new industrial zones, he said.

“We will invite the investors and build it. We will walk towards our future projects gradually,” he said.

He said the regional government will carry out a development project on the other side of Yangon River near Kyimyindine for the development of areas located in west of Yangon River, a development project in Dala Township and a development project to build a special economic zone fro the development of areas near the mouth of Yangon River. Moreover the government has planned to build a new port at the mouth of Yangon River and will build an international airport along with a special economic zone.

The regional government is trying for a good public transportation system in Yangon to be a good town to live and the projects will be taken for decades to be implemented, he said.

“We are developing projects to be successful year by year for the urban development,” he added.