Myanmar finalizes CITIC deal for Kyaukpyu port license
U Aung Naing Oo, Union Minister for Union Government Office Ministry (1), announced the conclusion of negotiations with CITIC on the Kyaukpyu deep sea port business license agreement signed by the previous government. The supplementary contract is set to be signed shortly.
The (4/2023) meeting of the Central Working Group on Myanmar Special Economic Zone was held on the afternoon of December 11, 2023, at the Ministry of Economy and Commerce Conference Hall.
At the meeting, U Aung Naing Oo said that the Chairman of the State Administration Council said at the economic committee meeting No. (7/2023) that special economic zones not only contribute to the economy and development of their own country but also the regional countries, so they need to achieve the fastest growth and business operations successfully.
Similarly, Kyaukpyu deep sea port and Dawei deep sea port can also contribute to the development of the country, so the project needs to be implemented as soon as possible.
Regarding the Kyaukpyu deep sea port, negotiations with China International Trust Investment Corporation - CITIC, which is a close builder, have been conducted to ensure better and more complete clarity of the business license agreement that had already been signed under the previous government.
When the construction of the Kyaukpyu deep sea port project starts, vocational education programs related to the construction industry will be prepared to provide employment opportunities to young citizens, including local Rakhine ethnicities.
For citizen companies to participate in the Kyaukpyu deep-sea port project, the Government Designated Entity Consortium (GDEC) has been announced in national newspapers, and the screening process of the companies that submitted the proposal will continue soon. The opportunities from the Kyaukpyu deep sea port project will also be created not only for the state but also for citizen businessmen and ethnic youths.
Necessary arrangements are also being made for the smooth operation of businesses in the Thilawa Special Economic Zone. The Foreign Exchange Management Committee is taking necessary measures to facilitate investment activities in the Thilawa Special Economic Zone.
After that, the Vice Chairman of the Central Working Group on Myanmar Special Economic Zone, Union Minister for Commerce U Tun Ohn members, of Special Economic Zone Management Committees and officials from various departments discussed and suggested business issues to further develop special economic zones.
The Chairman of the Central Working Group on Myanmar Special Economic Zone coordinated the necessary activities.
Eleven Media
Asia News Network
