U Phyo Min Thein, Chief Minister of Yangon Region, participated in the groundbreaking ceremony of Yangon Amata Smart and Eco-city in Yagon on December 27, 2020. The Yangon Amata Smart and Eco City project supported by Thailand is on 2,000 acres of land near the townships of Dagon Miotit (east) and (south).

The project was jointly developed by the Ministry of Urban and Housing Development under the Ministry of Construction and Amata Corporation PCL, headquartered in Thailand, under the guidance of the Yangon regional government.

The project is located on the economic corridor between Tilava Special Economic Zone and Hansavadi Airport. It will become an important hub of the city. The project will bring benefits to the city and promote technological development. I believe we may see technology transfer through foreign direct investment. "U Phyo Min Thein, Chief Minister of Yangon Region, said in the opening speech of the event.

"This project shows that the relationship and friendship between Myanmar and Thailand have been strengthened. I believe this project will help improve the socio-economic conditions of urban residents and create employment opportunities for them." The Thai Ambassador to Myanmar said in his speech.

Leading industrial city developer Amata will begin to implement the first phase of the Yangon Amata Smart and Eco City project under Yangon Amata Asia (Myanmar) Co., Ltd., with a total capital of US$1 billion.

The first phase of the project will begin on 200 acres of land. The project aims to create an important hub in the area, bringing everyone together and providing employment, vocational schools, medical services, trade and leisure in one place. Amata is committed to industrial development in harmony with the local community and natural environment. It will provide employment opportunities in an environmentally friendly environment and contribute to the country's sustainable growth.

The project will support all necessary infrastructure, utilities, logistics and services, industrial waste management activities, and other necessary businesses, and attract high-quality investors. The project plans to attract US$3.7 billion from tenant companies in the area. It is estimated that after the region is fully operational, its annual production capacity will reach 3 billion US dollars.

The project will employ more than 33,000 residents. In addition, it is estimated that an annual income of 60 million US dollars can be obtained from income tax.

The entire smart and ecological city project is planned to be completed within five years. The first phase of the project will begin in the first three months of 2021 and will be operational at the end of 2021. Editor/Huang Lijun