The Ministry of Investment and Foreign Economic Relations announced on 24th Oct that it has received 16 investment proposals for the New Yangon City project, which is part of China’s Belt and Road Initiative (BRI) from nine countries, including Japan, Singapore, Italy, Spain and France against China Communications Construction Company (CCCC).

The government on 15th Oct called for submission of expressions of interest (EOI) to compete in an open “Swiss challenge” tender process overseen by German consulting firm Roland Berger.
The proposed project includes public works and infrastructure construction, such as a Yangon River bridge, roads, resettlement, an industrial park, water treatment, sewerage, a power plant and commercial and residential land.

The Swiss Challenge Tender Committee said the shortlisted applicants will receive information within seven working days after the deadline for EOI submissions. The information will include details on the scope of work, required documents and a timeframe for the tender process.

Investment minister U Thaung Tun said Myanmar decided to begin the project with the industrial zone to ensure the project’s commercial viability and to create jobs to mitigate the economic impact of COVID-19.

Source: The Irrawaddy