{"id":2327,"date":"2019-03-07T11:18:21","date_gmt":"2019-03-07T11:18:21","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=2327"},"modified":"2021-06-04T14:18:34","modified_gmt":"2021-06-04T07:18:34","slug":"myanmar-doubles-down-on-belt-and-road-project","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/myanmar-doubles-down-on-belt-and-road-project\/","title":{"rendered":"Myanmar doubles down on Belt and Road project"},"content":{"rendered":"<figure id=\"attachment_2329\" aria-describedby=\"caption-attachment-2329\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-2329\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/03\/shutterstock_1096103087-compressor.jpg\" alt=\"\" width=\"1000\" height=\"666\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/03\/shutterstock_1096103087-compressor.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/03\/shutterstock_1096103087-compressor-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/03\/shutterstock_1096103087-compressor-768x511.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-2329\" class=\"wp-caption-text\">The Yangon skyline at sunset. Luca Fecarotta\/Shutterstock<\/figcaption><\/figure>\n<p>The Myanmar government has renewed its commitment to\u00a0developing a controversial Belt and Road project,\u00a0<a href=\"https:\/\/www.irrawaddy.com\/opinion\/analysis\/chinese-firm-involved-new-yangon-city-long-list-controversies-abroad.html\" target=\"_blank\" rel=\"noopener\">The Irrawaddy<\/a>\u00a0reported.<\/p>\n<p>New Yangon City will develop a 20,000-acre (8,000 hectares) parcel across the Yangon River into a modern urban hub with the help of China Communications Construction Company (CCCC).<\/p>\n<p>The government-run New Yangon Development Company (NYDC) had signed a framework agreement with the Hong Kong-listed company last year for the USD1.5-billion initial phase of the project, which includes a 10-square-kilometre industrial estate.<\/p>\n<p>Although CCCC has been embroiled in contentious projects abroad, NYDC officials reiterated the Chinese firm&#8217;s breadth of experience and capabilities, having spearheaded such major infrastructure projects as the Hong Kong-Macau bridge and the Beijing-Shanghai high-speed railway.<\/p>\n<p>\u201cNYDC has chosen CCCC to sign a framework agreement because the company was considered to be the most qualified,\u201d Daw Myat Hsu Hlaing, NYDC\u2019s development and communication associate, told The Irrawaddy.<\/p>\n<p>Formed by the Yangon regional government in March, the NYDC signed the contract with CCCC the month thereafter, without a prior call for tender.<\/p>\n<p>\u201cCCC shareholders include multiple international institutional investors. CCCC comes with financial clout,\u201d NYDC CEO Serge Pun said in a statement.<\/p>\n<p>\u201cWhy would we not want to work with one of the largest and more experienced companies in the global infrastructure industry space?\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Yangon City project requires clout of Chinese contractors, say government officials<\/p>\n","protected":false},"author":2,"featured_media":19971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[],"class_list":["post-2327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","news_country-myanmar","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Myanmar doubles down on Belt and Road 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