YANGON, May 11 (Xinhua) -- Maubin Industrial Park project, Myanmar's third of its kind after those in Yangon and Mandalay, has been launched in Maubin in southwestern Ayeyawaddy region, the official Global New Light of Myanmar reported Thursday.
Implemented by Maubin Development Public Company Limited, the industrial park is set up on 101 hectares of land.
The project aims to upgrade the socio-economic status of the local people, create more job opportunities, attract more foreign investments, improve the regional industrial sector, effectively use local human resources and produce value-added products.
Maubin Development Public Company Limited, running with 134 shareholders, has established a joint venture with Shanghai Yangon Investment Company Limited.
Out of a total 50 factories included in the project, 42 factories are related with clothing and the rest eight with foodstuff, household goods, electric products and literature and entertainment.
Previously, there were only agriculture and livestock industry in Maubin.
The authorities have planned to open Chinese language course for factory workers to communicate with foreign investors.
The project is expected to be completed within three years, the source added.