I hope you are all having a tremendous 2020 and it is my pleasure to share the first news update of NYDC.
Last week, President Xi Jinping made a State visit to Myanmar. His visit was to commemorate 70 years of diplomatic relations between the Republic of the Union of Myanmar and the People’s Republic of China. During his visit, State Counsellor Daw Aung San Su Kyi and President Xi witnessed the signing and exchanging of bilateral agreements and MOUs between the two countries.
Our project was among the exchanges. A Letter of Intent for the New Urban Development of Yangon City was signed between U Maung Maung Soe, Mayor of Yangon Region, and Mr. Song Hailiang, President of China Communications Construction Company Ltd (CCCC) on January 18, 2020.
Under the agreement, both the Yangon City Development Committee (YCDC) and CCCC have committed to cooperate on the implementation of Stage 1 infrastructure projects through a competitive procurement process. This process will be carried out in accordance with the principles of market economy, transparency, fair competition and rules and regulations of Union of Myanmar.
This is a very encouraging step forward for NYDC.
YCDC has already submitted the Pre-Project Documents for Stage 1 six infrastructure workstreams for Union Government level approval. Once it has been approved and the necessary preparatory works are completed, YCDC will be launching a Swiss Challenge tender for Stage 1 six infrastructure workstreams.
I am also very pleased with the progress of the project. The ongoing Land Resettlement process is close to completion and we will be announcing the selected preferred applicant for Cyber Connectivity Infrastructure of Phase 1 Stage 2 projects next week as well.
Once again, I wish you a very prosperous year ahead.