As chairman of Thilawa SEZ and former Deputy Minister for National Planning and Economic Development, he said the economic zone can show how this can take shape, serving as a test case for the government's decentralization policy. While hard infrastructure will be in place soon, soft infrastructure will follow.
"Once it is proven to be very successful, then it can be replicated in many other areas."
All companies operating in the zone are required to follow a special set of rules and regulations, drafted with help from international experts. Investors are welcomed to share their opinions, advice and comments - considered "the software" that the country needs to meet international standards.
Chua Wee Phong, chairman of Sphere Conferences, which organised the conference, expressed the need for urban planning, particularly in Yangon.
"In Yangon, land prices in the city center range between US$1,000 to $3,000 per square foot, while land in prime areas outside the city center fetch between $800 to $1,500. Many Myanmar businessmen and developers are riding on the property boom to develop new residential and commercial buildings."
Construction Minister Kyaw Lwin said that Myanmar has committed to strengthen such areas as electricity, water supply, agricultural, employment, trade and investment.
"It is undeniable that most of the priority areas are related to urban development," said the minister.
"Our government has taken incremental steps towards urbanizing Yangon, gradually upgrading and formalizing informal settlements, working towards a steady supply of electricity for the people, and the establishment of the Construction and Housing Development Bank, to name a few. There remains much to be done.