18 May 2017
MYANMAR: Unused Industrial Zone Land to Revert to Government After Six Months
Ownership rights to unused industrial land are to revert to the government if they fail to become operational within a six-month period. The move follows concerns that such land in industrial zone sites is being acquired by real estate speculators then sold to third parties at a premium rather than being put to its intended use.
As a further check, the country’s 21 industrial zones are to be regularly inspected in a bid to prevent land designated for industrial use from being repurposed for unlicensed applications, such as warehousing or real estate speculation.