A local private company has proposed leasing out the Coco Islands for 50 years, according to government officials.
Name of the company and other details of the proposal, which was submitted to Yangon regional government, could not be learnt.
The two islands in the northeastern Indian Ocean belong to the Yangon region.
The proposal will be submitted to the union government, an official said, terming the proposal as of “general” kind.
The Coco Islands, parts of the Andaman Islands archipelago, are abundant with natural resources which still remain unexploited. The waters around the islands have different colours and are transparent up to 10 metres down. These make the island a major attraction for domestic and foreign tourists.
In 1935 the Coco Islands became parts of British Burma when the British rulers separated Myanmar from British India.
source: Eleven Myanmar
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