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The Maubin Industrial Park implementation begins
On 9 May, a ground-breaking took place on the building site for six plants in the Maubin Industry Park, in which the farmers were also involved. The Maubin lndustrial Park will be built on a 250 hectare site in the municipality of Maubin, Ayeyawady region. It is said that the aims of the project are to increase the socio-economic standing of the locals, increase employment, increase investment, strengthen the region's industry sectors, make effective use of the region's HR and generate value-added value.
The Maubin Industrial Park was launched with 26 Maubin Development Company Limited stockholders, which has now been converted into Maubin Development Public Company Limited with 134 stockholders. The Maubin Development Public Company has founded a JV with Shanghai Yangon Investment Company Limited. Shangai Co will own 55 percent of the company's stock, while Maubin Development Public Company will bring in 45 percent of the stock.
There are 42 garment plants, three food plants, three housewares plants, one literary and entertaining plant, one electrical products plant and a further 50 in all. Approximately Ts269,100 million is being invested in this property with an overall capital expenditure of Ts291,213 million, while Ts22,113 million is anticipated for infrastructural work.
The building of the plants will create jobs for 77,000 people. "In Maubin there is no such thing as hard work. That' s why we have the concept of building the Industriepark in this Township. It also swears to support us in building the large plants that will be built together by the entrepreneurs," said U Yan Win, President of the Maubin Development Public Company.
"What makes Maubin lndustrialest is that some stocks are owned by growers. It will help to develop the area and create many more jobs for locals," he added. Yangon is the first town in Myanmar's Industry Reserve and the second in Mandalay.
The Maubin Industry Park will be the third. According to the Maubin Industry Park, this Maubin Industry Park plan is expected to be finished within three years. U Aung Htoo, Vice Minister for the Ministry of Commerce, Ayeyawady Region official, Chairman and Official of the Shanghai Federation of Chambers of Commerce and Industry and Maubin Development Public Company took part in the laying of the foundation stone.