The Department of Urban and Housing Development, Ministry of Construction, Republic of the Union of Myanmar and AMATA signed a framework agreement for the development of Yangon AMATA Smart & Eco City
The Department of Urban and Housing Development, Ministry of Construction, Republic of the Union of Myanmar and AMATA has signed a framework agreement on developing Smart and Eco city in Yangon
Yangon AMATA Smart and Eco City (YASEC), a subsidiaries of AMATA Corporation PCL, one of the leading industrial city developer in Thailand and The Department of Urban and Housing and Development (DUHD), Ministry of Construction, Republic of the Union of Myanmar have signed a framework agreement to develop a Smart and Eco city and supporting infrastructure, logistics, services, other businesses which related to Smart and Eco city project. With this framework agreement, DUHD will hold 20% of shares.
Mr. Yasuo Tsutsui Managing Director of Yangon Amata Smart and Eco City Limited (YASEC), said the framework agreement is considered to be one of AMATA smart city projects since it always has been AMATA ‘s vision to build Smart and Eco cities, create long-term economics and social impact to support Myanmar Sustainable Development Plan and with the joint development between Amata and Myanmar Government, AMATA believes that the development of YASEC will bring greater employment opportunities, reduce regional poverty and promote capacity building for Myanmar people.
“YASEC will be the first sustainable Smart & Eco City in Myanmar. The first phase development is proposed at 2,000 acres. AMATA believes that YASEC will meet all the conditions to become a sustainable city focused on providing an Eco-Friendly environment, quality employment opportunities, education, healthcare, commercial and recreating facilities all in one city. And the project will all be managed and controlled by the green and smart technology concept. “said Mr.Yasuo.
Amata is the largest listed conglomerate in the industrial estate sector of Stock Exchange of Thailand; and it currently operates several prime sites in Thailand and Vietnam – with more in development in Myanmar and Laos, it has built a strong regional platform which serves a global over 1,300 customers. The Amata family includes numerous Global Fortune 500 (2018) companies, including Toyota Motor, Cardinal Health, BMW Group, Nippon Telegraph and Telephone, Nestle, Bosch Group, Hitachi, Sony, BASF, PepsiCo, Toyota Tsusho, Posco, Nippon Steel, Continental, Denso, Sumitomo, Mitsubishi Electric, Magna International, Mitsubishi Chemical, Bridgestone, Idemitsu Kosan and Sumitomo Electric.