Ceremony to Sign Addendum to Concession Agreement on the Deep Seaport Project in Kyaukpyu Special Economic Zone Held

A Ceremony to Sign Addendum to the Concession Agreement for the implementation of the Deep Seaport Project in Kyaukpyu Special Economic Zone took place on 26 December at the Horizon Lake View Resort in Nay Pyi Taw. State Administration Council Member Deputy Prime Minister Union Minister for Transport and Communications General Mya Tun Oo, a member of Myanmar Special Economic Zone Central Working Committee, joined the ceremony and gave a speech.

The ceremony was also attended by Chairman of Myanmar Special Economic Zone Central Working Committee Union Minister for Union Government Office 1 U Aung Naing Oo, Union Ministers, departmental heads and officials, chairpersons of special economic zone management committees and officials, CITIC Group President, Chargé d’affaires of the Embassy of the People’s Republic of China, local and foreign media agencies.

During the ceremony, Deputy Prime Minister and Union Minister General Mya Tun Oo delivered a remark as follows:

  • The CMEC stretches 1,700 kilometres and is a project to connect Kyaukpyu, the western maritime gateway, passing through the middle part of Myanmar, Mandalay, to Kunming of Yunnan Province of China.
  • Kyaukpyu Township is located in the Bay of Bengal and is a strategic site for development in the future.
  • For such valuable economic opportunities, the government encouraged international investments to establish a special economic zone in Kyaukpyu on 23 November 2011.
  • Moreover, the deep seaport project to be carried out in Kyaukpyu Special Economic Zone with an enormous investment volume will be a project that will support the economic growth of the country.
  • However, delays occurred in the past two years to start the project due to the COVID-19 infections and ongoing coordination between the Kyaukphyu Special Economic Zone Management Committee and CITIC.
  • The Signing Ceremony of the Addendum to the Concession Agreement was made to resume the deep seaport project as quickly as possible aiming to expedite the promotion of the Project and to achieve more precise understanding of the signed Concession Agreement.
  • Moreover, it would offer imported products from South Asia, West Asia, and Africa with a shorter route to the Chinese mainland, thereby cutting transport time and costs.
  • The industrial park project will also be implemented with the deep seaport project to provide the locals with job opportunities.
  • It is necessary to start the project as soon as possible and cooperate more closely in various sectors, including bilateral trade and investment, ensuring the trade and economic development among people of the two countries.

Next, Kyaukpyu Special Economic Zone Management Committee Chairman U Kyaw Shwe Tun and Kyaukpyu Special Economic Zone Deep Seaport Company Limited Director Mr. Liang Chuanxin signed the Addendum to the Concession Agreement for the implementation of the Deep Seaport Project in Kyaukpyu Special Economic Zone.

During the event, Union Minister U Aung Naing Oo and Mr. Liang Chuanxin met the media agencies, and clarified on the further process of the Deep Seaport Project in Kyaukpyu Special Economic Zone.

Source: GNLM (27-12-2023)

 

  • The deep seaport project to be carried out in Kyaukpyu Special Economic Zone with an enormous investment volume will be a project that will support the economic growth of the country.
  • It would offer imported products from South Asia, West Asia, and Africa with a shorter route to the Chinese mainland, thereby cutting transport time and costs.
  • The industrial park project will also be implemented with the deep seaport project to provide the locals with job opportunities.
engdate: 
Wednesday, December 27, 2023 - 16:15
month: 
December, 2023