Myanmar’s lower house of parliament will soon decide whether to suspend a controversial US$70 million private hospital project in Yangon.
The Parkway Yangon Hospital is slated for development on a 4.4-acre plot in the downtown area, close to Yangon General Hospital.
The former government approved the project on a build, operate and transfer basis in January, shortly before it left office. The decision prompted howls of condemnation, particularly from medical professionals, who argued that the land should instead be used for a public hospital.
Yesterday, National League for Democracy MP Dr San Shwe Win submitted a proposal to suspend the lease granted for the site, on the corner of Bogyoke Aung San and Pyay roads, to a consortium led by Malaysian firm IHH Healthcare.
The lease is for 50 years, but can be extended by up to 20 years under Myanmar’s investment laws. Once the lease term ends, the assets will revert to state ownership. (Courtesy of Frontier Myanmar)
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