The framework agreement on Kyaukphyu Special Economic Zone Deep Sea Port Prject was signed by the Kyaukphyu SEZ Management Committee and CITIC Consortium at the Ministry of Commerce in Nay Pyi Taw yesterday.
At the ceremony, Myanmar Special Economic Zone Central Body Chairman, Union Minister for Commerce Dr. Than Myint and Ambassador of People’s Republic of China to Myanmar, Mr. Hong Liang, delivered the opening speeches.
CITIC Group Chairman Mr. Chang Zhenming, and Kyaukphyu Special Economic Zone Management Committee Chairman and Deputy Minister for Planning and Finance U Set Aung delivered messages of thanks.
Afterwards, Deputy Minister U Set Aung and Mr. Chang Zhenming signed and exchanged the Kyaukphyu Special Economic Zone Deep Sea Port Project Framework Agreement, in the presence of Union Minister Dr. Than Myint and the Chinese Ambassador Mr. Hong Liang.
Thereafter, Union Ministers from Myanmar’s Special Economic Zone Central Body, Rakhine State Chief Minister, Deputy Ministers from the Central Working Body, the Dawei Special Economic Zone Management Committee Chairman, the Kyaukphyu Special Economic Zone Management Committee Chairman, the Joint Chairman and other members, the CITIC Group Chairman, the Chinese Ambassador to Myanmar, representatives from the CITIC Group, businesspersons, representatives from Myanmar Kyaukphyu Special Economic Zone Holding Public Company Limited, and other
officials posed for a group photo.
Later, Special Economic Zone Management Committee Chairman Deputy Minister U Set Aung, CITIC Consortium representative and CITIC Group (Myanmar) Co., Ltd Managing Director Mr. Yuan Shaobin and Myanmar Trade Promotion Board Director General U Aung Soe, spoke to the media about the framework agreement.
Preliminary feasibility studies and site surveys for the Kyaukphyu Special Economic Zone Project were conducted in 2012 and 2013. A consultant company was selected through an international tender in
2013. Investors and developers were invited and selected through an international tender in 2014.
On 30 December 2015, a consortium led by CITIC won the tender to develop the deep sea port and industrial estate projects. The framework agreement aims to implement the Kyaukphyu Deep Sea Port project, according to international norms.
The Special Economic Zone is being set up for the economic development of Rakhine State, to create job opportunities for local residents, and to support the development of transportation and production.
—MNA (Translated by Zaw Min)