YANGON, Feb. 23 (Xinhua) -- Myanmar will start implementing part of a Yangon Myothit (New Town) project on the other side of Yangon River near Kyimyindine township in the southwest of Yangon at the end of this month, the official Global New Light of Myanmar reported Thursday.
The project will be carried out on contract by the Yangon Metropolitan Development Public Company involving 2,000 Myanmar construction entrepreneurs, the Yangon regional government was quoted as saying.
The Yangon new town project including a new special economic zone will be submitted as a national project for 2017-18 fiscal year to the regional parliament for approval.
As part of the project, low-cost housing project will also be implemented for those living in the squatters and those having difficulty in housing problem.
The new town project is intended for the increasing population of Yangon region which now stands at over 6 million.
The Yangon regional government is working on a Yangon New Town Project on 7,284 hectares adjacent to Twanty, Kyimyindine and Seikyi Khanaungto townships on the other side of Yangon River, closely supervising the implementation of the project to prevent highly rising land prices.
