A new Myanmar industrial zone law designed to encourage factories and workshops to relocate to strategic industrial zones should be accompanied by a public-private-partnership in infrastructure investments to "effectively reduce" the country's ongoing infrastructural deficit, Colliers Myanmar says.

U Soe Win, Union Minister of Planning, Finance and Industry told a monthly meeting between the vice president and local business leaders that the government is on track to relocate outside factories and workshops to industrial zones as part of the pending law.

Colliers Myanmar Senior Analyst Paul Ryan Cuevas said the immediate concerns of the global market should not stop Myanmar from planning sustainable long term development.

Colliers Myanmar Senior Analyst Paul Ryan Cuevas. Source: Colliers Myanmar

"Despite domestic uncertainties due to political sentiments surrounding Rakhine State and the spreading global pandemic COVID -19, the betterment in ease of doing business, growth in manufacturing activities, improved availability of credit and increasing power supply will enable further expansions by both local and international investors," he said.

"Colliers recommends public-private-partnership in infrastructure investments to effectively reduce the ongoing infrastructural deficit.

"Developing a holistic approach to finance industrial projects should bode well for more sustainable development in the long run." 

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