YANGON, June 22 (Xinhua) -- Myanmar's Yangon Region Parliament has agreed to implement a project of expanding industrial zones in 11 townships outside Yangon municipal areas as part of a new urban development master plan, a report of the official Global New Light of Myanmar said Friday.
Yangon region is made up of 45 townships, of which 33 townships are administered by the Yangon City Development Committee (YCDC).
The industrial zones are to be set up in 11 townships outside the municipal areas to prevent development gap between the YCDC-controlled areas and areas on its periphery.
The 11 townships cover Kawhmu, Kungyangon, Twanty, Thanlyin, Kyauktan, Kayan, Thongaw, Taikkyi, Hmawbi, Helgu and Htantabin.
These townships will spread up to more than 1,800 acres (730 hectares).
There are 29 existing industrial zones as well as the Thilawa Special Economic Zone in Yangon, accounting for 53 percent of the total industrial zones in Myanmar.
Meanwhile, Myanmar has laid out a new urban development project of Yangon region, inviting local and foreign entrepreneurs to invest in the master plan.
The Yangon Region Investment Committee outlined that sub-centers, new towns, railway stations and industrial zones will be established as part of the plan.
Yangon region accounts for 23 percent of the gross domestic product of the country, growing at an average of 9.2 percent year-on-year.
The region also takes up 85 percent of the total foreign trade, having attracted a total of 20.2 billion U.S. dollars' foreign investment from 845 enterprises up to the fiscal year 2017-2018 since 1988-1989.
The region is predicted to have its population increase to 10 million by 2030 while it is currently home to 7 million people.
