Thailand and Myanmar Agree to Push Ahead With Dawei Special Economic Zone

Thailand and Myanmar Agree to Push Ahead With Dawei Special Economic Zone

Related imageMyanmar and Thailand have published their nine-point agreement to push through the implementation of the long-delayed US$8-billion (12.23-trillion-kyat) Dawei Special Economic Zone (SEZ) in southern Myanmar’s Tanintharyi Region, which is set to be Southeast Asia’s largest industrial complex.

The agreement included plans for a two-lane highway to the Htee Kee border through Myittar to enable the site’s construction. Both sides decided to invite third-party investment for the final implementation of the SEZ and to supply the electricity. The Union Parliament in March 2018 approved a 4.5-billion baht (US$137-million or 220.5-billion-kyat) low-interest loan from Thailand’s Neighboring Countries Economic Development Cooperation Agency (NEDA) for the highway. The ground construction work is expected to begin in 2020.

Italian-Thai Development PCL (ITD) was initially granted a 75-year concession to develop and attract investment in 2008 with completion due in 2015. Financial constraints saw ITD withdraw in 2013 but two years later both countries agreed to allow ITD and other companies to develop a site of up to 27 square kilometers. The initial phase, including an industrial estate, power plants, a small port and an LNG terminal, was granted to a consortium led by ITD in March 2016.

Source: the Irrawaddy

906total visits,1visits today