A major Myanmar conglomerate has proposed a new industrial park to be developed outside Yangon. This is the latest of 11 proposed industrial centres designed to attract foreign investment. According to The Myanmar Times, the Tah Moe Hnye Group Investment and Development Co. Ltd., along with an unnamed Chinese partner, proposed the industrial park in Thanlyin township in south of Yangon. The site would host mainly garment and furniture factories.

If approved, the site would be the latest in a series of new industrial parks proposed by the Yangon regional government at the last year’s Yangon Investment Forum 2018. According to the report, the regional parliament officially approved two sites last month. One, a 1000-acre site in Htantabin Township, will require a USD 500 million investment.

Thanlyin has seen a string of new developments in recent years, including the ambitious Star City luxury housing development. The estate is marketed to foreign residents and the high-end business community.