Possible income tax 60m USD generated project ‘Yangon Amata Smart & Eco City’ expected to complete in five years
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Hsu/ Myo Gyi (NP News) – April 21
As per information, the construction project of Yangon Amata Smart & Eco City, is expected to earn about 60 million dollar per year, is targeted to be finalized within 5 years period.
It is stated in the EIA report relating to Yangon Amata Smart & Eco City project which is being implemented on 2,000-acre wide land.
Infrastructures, related supporting facilities and the development of the buildings on the project land area are set to be finalized within five-year period; therefore, the construction period is from 2020 to 2025.
The project site is located near Laydaunkan village between East Dagon and South Dagon in Yangon Region.
It is a joint-venture project between Yangon Amata Smart & Eco City company which is a subsidiary of Thai-based Amata Corporation PCL and the Department of Urban and Housing Development under Ministry of Construction.
The Yangon Amata Smart & Eco City project is signed in 2018 for the joint venture agreement.
It is expected to attract nearly one billion USD worth FDI from that project and it is also projected to create more than 30,000 job opportunities within five years.
In the report, it is also estimated that the total productivity from that project would be about 3.1 billion USD annually and it is envisioned to create about 60 million USD revenue per year.
In the project, the implementation of industry, business zones, housings, relaxation zones, educational institutes and hospitals will be involved.