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Published on Monday, 14 January 2013 00:18
Industrial land prices see fivefold rise in Thilawa Special Economic Zone. (Photo-Sithu Aung/EMG)
The government will not control some industrial zone land prices despite their rising to the highest in the world, Deputy Minister Hset Aung of the Ministry of National Planning and Economic Development said.
He was speaking at a workshop on the Thilawa Special Economic Zone held on January 9.
The deputy minister, however, reiterated that the government would adjust the price appropriate to the international community.
One square metre of industrial land costs US$50, higher than in Thailand and Vietnam. As a result, a master plan for the Thilawa Special Economic Zone has been drafted so as to ensure there was no land price hike inside the zone.
Businessmen blamed property speculators, who control the industrial lands, for the steep hike in price.
If the industrial land plots are allotted to those who really want to set up industries, the price will not rise that much, the businessmen said.
Aye Thaung from the International Business Promotion Centre said that the prices were rising because the industrial lands were granted to those who were reselling them, adding that industrial lands should be allotted to those who really intend to use it.