The Thanlyin industrial park, located just southeast of the commercial capital of Yangon across the river, is one of 11 new industrial parks proposed by the regional government at the Yangon Investment Forum 2018 held in May last year.
Tah Moe Hnye together with their Chinese partner has proposed that the park focus on garment and furniture manufacturing.
Yangon Region chief minister U Phyo Min Thein, who met with Tah Moe Hnye officials and their Chinese partner on August 13, said the regional government will study the proposal as well as do the due diligence on the finances, experience and past work of the companies involved.
Tah Moe Hnye has businesses in construction, mining as well as hotel and tourism, while its telecommunications arm, TMH Telecom pcl, was listed on the Yangon Stock Exchange in late January 2018.
Two other industrial parks that were proposed at last year’s investment forum were approved by the regional Hluttaw last month.
A memorandum of agreement was signed between the regional government and Yangon Htantabin Technology Company, which comprises investors from China, Hong Kong and Myanmar, for the 1000-acre Htantabin industrial park that will need an investment of US$500 million.
Negotiations were still under way with investors for the Hlegu industrial park, which is understood to include a consortium formed between Pahtama Group Co Ltd and a Singaporean firm, according to the Regional Government.
These industrial parks, located in 11 mostly rural townships, forms part of the projects included under the Yangon Project Bank, a pool of 80 priority projects initiated to attract foreign investment and create jobs.
The Yangon Project Bank priorities include city development, housing, redevelopment, industrial, port, fishery, agriculture, transportation and public space projects, which will be implemented under public-private partnership agreements.
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