Union Minister U Aung Naing Oo Clarifies Further Process of Kyaukpyu Special Economic Zone’s Deep Seaport Project

Following a ceremony to sign Addendum to the Concession Agreement for the implementation of the Deep Seaport Project in Kyaukpyu Special Economic Zone was organized on 26 December at the Horizon Lake View Resort in Nay Pyi Taw,  Union Minister at Union Government Office (1) U Aung Naing Oo, in his capacity of the Chairman of Cenral Working Body on Myanmar SEZ, met news media agencies and clarified the following points;

• The Kyaukpyu SEZ Management Committee and Kyaukpyu SEZ Deep Seaport Co Ltd (Project Company), formed as a joint venture between Myanmar and China, signed the Concession Agreement to implement the deep seaport in November 2020.
• Both sides held coordination meetings to clearly understand the Concession Agreement and the authority and duties for some facts in the agreement between Myanmar and China, aiming to run the project earlier.
• According to the coordination meetings, the Chairman of the Kyaukpyu SEZ Management Committee and the official representative of the Kyaukpyu SEZ Deep Seaport Co Ltd inked the Addendum to implement the project as soon as possible.
• This project aims to enhance the socioeconomic life of the people in Rakhine State, including Kyaukpyu region, and create employment opportunities in addition to promoting cooperation in economy and trade between Myanmar and China.
• The Kyaukpyu SEZ Project is a heavy infrastructure development project with a large amount of investment through Myanmar-China cooperation that comprises 30 per cent shares of Myanmar and 70 per cent shares of China.
• The project will comprise four phases. The project will be facilitated with ten jetties to admit docking of vessels. After the completion, the port will be able to handle some seven million 20-foot containers per year and it will become Myanmar’s first international-level deep seaport.
• This project will be a trade focal point among Asia, Africa and Europe and a gateway to the world to improve the socio-economy of Myanmar and regional countries.
• Starting 2022, not only the initial geo-topographic survey (PGTS) but also environmental and social impact assessment (ESIA) were conducted for the deep sea port project. Again, the world-renowned Canada-based project management company HATCH was appointed as a project consultant that helped to select contractors and manage the project area.
• The project company strictly ensures compliance with the existing laws in Myanmar and appointed the ESIA consultant firm which has lots of local and international outlooks through offering international open tender.
• Since April 2022, the Environmental and Social Impact Assessment (ESIA) consulting company has conducted a series of analysis and public participation activities to understand the basic environmental conditions surrounding the deep sea port project, and recorded the concerns of local residents regarding environmental protection issues.
• In the development of the Kyauk Phyu Deep Sea Port project, it will be implemented based on three basic principles, namely “PPP-People, Prosperity, Planet” that mean promoting public interests, wealth and environmental protection. 
• As the project company, USD 1,000,000 will be invested yearly for the first 5 years of the project construction phase; US$500,000 will be contributed annually to the operational level and social welfare activities will be strived for CSR.  
• In order to meet the needs of local people in carrying out socially beneficial CSR activities, we would like to invite the balanced participation of the local community, and we will carefully listen to the opinions and suggestions of stakeholders.
• It will be able to attract millions of US dollars in investment to Myanmar, generate a lot of tax revenue for the state, and promote the surrounding upstream and downstream industries, thus increasing the economic development of the entire country and the individual GDP of the people.

In the implementation of the project, including local Rakhine ethnic businessmen, ethnic businessmen who have business experience from Myanmar and can actually work will be invited to cooperate with the project company.

Source: Myawady Daily Newspaper (28-12-2023)

• The Kyaukpyu SEZ Project is a heavy infrastructure development project with a large amount of investment through Myanmar-China cooperation that comprises 30 per cent shares of Myanmar and 70 per cent shares of China.
• The project will comprise four phases. The project will be facilitated with ten jetties to admit docking of vessels. After the completion, the port will be able to handle some seven million 20-foot containers per year and it will become Myanmar’s first international-level deep seaport.
• This project will be a trade focal point among Asia, Africa and Europe and a gateway to the world to improve the socio-economy of Myanmar and regional countries.
• In the development of the Kyaukpyu Deep Sea Port project, it will be implemented based on three basic principles, namely “PPP-People, Prosperity, Planet” that mean promoting public interests, wealth and environmental protection. 
• It will be able to attract millions of US dollars in investment to Myanmar, generate a lot of tax revenue for the state, and promote the surrounding upstream and downstream industries, thus increasing the economic development of the entire country and the individual GDP of the people.