The expressions of interest deadline for the New Yangon Development Company Challenge is fast approaching, with submissions to close on February 28.

Designed in accordance with the Swiss Challenge method, the initiative allows private companies to assist with the development of New Yangon City. 

At a glance:

• New Yangon Development Company has invited companies to contribute to the development of New Yangon City as part of the NYDC Challenge.
• A company will be selected to undertake preliminary works and feasibility studies to prepare the Pre-Project Document (PPD) at its own cost.
• Deadline for expressions of interest is February 28.

The beginning of this year's challenge comes almost a year after the Yangon regional government launched the NYDC to be incorporated under the Special Companies Act.

Owned entirely by the government, the NYDC invites local and foreign entrepreneurs as third parties to invest in the new city project, which is primarily based on a Public-Private Partnership (PPP) model, with businesses contributing in equity investments.

According to the NYDC, the finished project is expected to accommodate over three million residents and create two million jobs.

Chief Executive Serge Pun said it was the responsibility of the government to make sure that Myanmar people "have opportunities to improve their living standards and escape from poverty through employment".

The planned area for New Yangon City. Source: New Yangon Development Company.

The first phase of the project will use 20,000 acres of land on the western bank of the Yangon River and is estimated to cost more than $1.5 billion.

Phase One public works include: 

• Power Supply and Distribution
• Public Transport System
• Cyber Connectivity Infrastructure
• Municipal Waste Disposal
• Natural Gas Supply and Distribution
• Convention Center.

After expressions of interest are submitted, NYDC will select a company to undertake a feasibility study and prepare the Pre-Project Documents (PPD) at its own cost to be publicized for competitive tender bids.

NYDC publicizes the entire contents of the agreement and allows any qualified party to challenge the agreement with better terms on the basis that it strictly adheres to the terms and conditions of the agreement.

According to the NYDC website, should a second party challenge with a lower bid, the first party will be allowed to match the offer or forego, in which case the second party will be awarded the contract.

Expressions of Interest for the NYDC Challenge must be submitted by February 28. Pre-qualified companies will be invited to in-depth discussions for selection to undertake the first step of the NYDC Challenge.

Click here for more information about the challenge.

Source: New Yangon Development Company

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