July 29

The Union government has unbundled a controversial Chinese-backed multibillion-dollar new city project across the Yangon River from Myanmar’s commercial hub and is finalizing the hiring of an international consultant to assist in the selection of a developer for the newly compartmentalized project. Known as the New Yangon City project, it is an element of the China-Myanmar Economic Corridor (CMEC), which is a part of China’s Belt and Road Initiative (BRI). The CMEC will connect Yunnan province in China to Mandalay in central Myanmar, Yangon New City in the south and the Kyaukphyu Special Economic Zone in the west.

Read more at:

https://www.irrawaddy.com/news/burma/myanmars-union-govt-splits-huge-china-backed-new-yangon-city-project.html