Yangon New Town Project cancelled
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The mayor of Yangon today cancelled an US$8 billion project to expand Myanmar's biggest city after a public outcry over the scheme's lack of transparency.
The Yangon regional government in August announced a plan to build a massive new town on 30,000 acres (12,140 hectares) of land on the western edge of Yangon. It awarded the tender to Myanmar Say Ta Nar Myothit Public Co Ltd, which was registered as a business in December.
Following an outcry over the lack of information that had been made public about the deal, Yangon Mayor Hla Myint said earlier this month that the authorities would re-open the contract for an open-tender process.
But just hours before a debate on the city project began in the regional assembly on Friday, he announced it had been scrapped.
"The Yangon regional government cancels the project and also a contract with Myanmar Say Ta Nar Myothit Plc," Hla Myint told the regional parliament.
Lawmakers welcomed the announcement.
"They [Yangon authorities] should try to get approval for such a big project from parliament and choose the developer with transparency," said Nyo Nyo Thin, a regional lawmaker.
"They should not treat the people of Myanmar like idiots," she said.
