Shwe Kokko New City (Yatai City)

Objective

Initially projected at US$15 billion, the project aimed to transform the area into a major urban and economic hub.

Description

Shwe Kokko village, approximately 10 miles north of Myawaddy in Karen (Kayin) State, hosts Yatai City, the most notable project by Yatai International Holding Group (Yatai IHG).

History

The project has faced allegations of illegal activities, including unauthorized gambling operations, human trafficking, and cyber scams. In 2020, the Myanmar government initiated an investigation into these claims. Despite announcements in September 2024 about halting operations due to international pressure, reports indicate that activities, including construction and recruitment, continue within the project area.

Finance