Myanmar’s Ministry of Construction has called for international firms to tender for work on the Yangon-Nay Pyi Taw-Mandalay Highway, according to The Myanmar Times. The highway connects the country’s largest city, Yangon, and second largest city, Mandalay, to the capital, Nay Pyi Taw. The project, which is the renovation of the first 40 miles of highway from Yangon, will be implemented with a loan from the Asian Development Bank (ADB) worth around US$80 million. This section of highway expects 16 million vehicles a year. Using a loan from the Chinese-led Asian Infrastructure Investment Bank, upgrading works will also continue on the rest of the highway from the 40th mile.
This development in Myanmar comes as the ADB announced that Southeast Asian economies will need to allocate 5.7 per cent of GDP for infrastructure investment needs until 2030 in order to sustain its growth. Asia House will be launching the full report, Meeting Asia’s Infrastructure Needs, this Friday.