China reportedly willing to revive New Yangon City Project
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Khit / Yoon (NP News) - Oct 24
According to local business circles, China is reportedly considering reviving the suspended New Yangon City project.
The ambitious New Yangon City project, spanning over 370,000 acres in Seikkyi Kanaungto, Twantay, Hlaing Tharyar, and Kyimyindaing townships, was launched in 2018 by the NLD government.
The New Yangon City project, originally planned as a collaboration with China, has been suspended and has yet to begin.
A major local businessman told The NP News, "During Daw Aung San Suu Kyi's time, they planned to release detailed information about the New Yangon City project in the last February. According to their plan, three construction companies from Myanmar would be involved, along with participation from China. However, that has been put on hold. As of now, we don't know how or when it will be implemented. The project is currently suspended, with no progress or action being taken."
The New Yangon City Development Company Limited (NYDC) has previously announced that the project is expected to generate employment opportunities for over 2 million people.
Some businesspeople believe that China's growing interest in the New Yangon City project could signal a potential revival of the suspended development.
A businessman stated, "The New Yangon City project is something China really wants. From a geopolitical perspective, China initially planned that they could access Kyaukphyu in Rakhine whenever they wanted. But now, China has changed its plan. Instead of accessing the Indian Ocean through Rakhine, they are reconsidering using Yangon as their outlet, which is why they're asking for the New Yangon City project again. I’ve heard this, though I don’t know the exact details. The main thing is that China wants an outlet to the sea, and that’s why they’re requesting this project. When China faced blockades from Bangladesh on the other side, they needed an alternative route, which is why I think they will proceed with the New Yangon City project."
The New Yangon City project aims to include a diverse range of amenities, such as industrial zones, high-end residential areas, vacation homes, and shopping centers, as well as a modern transportation network of urban express trains and bus routes, transforming it into a technologically advanced industrial city.