In line with NYDC’s transition into the next phase of growth and our ongoing commitment to achieving high efficiency in the development of the New Yangon City, which will ultimately merge into the existing Yangon, the Yangon Regional Government has recently decided to reorganise the Board of Directors of NYDC.
I am therefore pleased to announce the appointment of new members to the Board of Directors — Deputy Mayor U Soe Lwin has assumed the role as Chairperson, replacing H.E. Daw Nilar Kyaw. Yangon City Development Committee Secretary Daw Hlaing Maw Oo will be a new Director of NYDC, replacing H.E. U Han Htoon.
We would like to take this opportunity to thank and honour H.E. Daw Nilar Kyaw and H.E. U Han Htoon for their dedication and significant contributions during their time as members of the Board.
We extend a warm welcome to our new members, and I am confident that their expertise and experience will benefit in the development of New Yangon City Phase 1.
Over the past two months, we are already seeing growing number of enquiries from manufacturers seeking to move the manufacturing base to Myanmar. This is a crucial opportunity to help us gain economic momentum and remain competitive with our neighbouring countries such as Bangladesh, Laos, Cambodia and Vietnam.
The main problem we are facing however is the urgency in which these manufacturing companies wish to relocate. As such, we are working to arrive at a plan that can balance the expectations of these manufacturers with the expedition of completing the first batch of industrial estates while ensuring that all parameters comply with international standards and regulations.
We will update you this matter in due course.
Serge Pun @ Theim Wai