Myanmar, China ink addendum for Kyaukpyu Deep Seaport Project

State Administration Council Member Deputy Prime Minister Union Minister for Transport and Communications General Mya Tun Oo addressed the signing ceremony of the Addendum to Concession Agreement on the deep seaport project in Kyaukpyu Special Economic Zone held in Nay Pyi Taw yesterday.
The ceremony was attended by Chairman of Myanmar Special Economic Zone Central Working Committee Union Minister for Union Government Office 1 U Aung Naing Oo, Union Ministers Dr Kan Zaw, Dr Thida Oo, U Maung Maung Ohn, and U Tun Ohn, Deputy Ministers, departmental officials, chairpersons of special economic zone management committees, CITIC Group President, Chargé d’affaires ai of the Embassy of the People’s Republic of China, local and foreign media.
Speaking at the event, the General said Myanmar shares long borders with China and boasts close Pauk-Phaw relations. During over 70 years of Myanmar-China diplomatic relations, the two countries have built mutual trust. The bilateral relation also becomes firm, and the bilateral cooperation deepens more in economic sectors like bilateral trade and investment.
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.
The General continued that 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. The Shareholders’ Agreement and Concession Agreement were made in 2020.
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 Addendum to the Concession Agreement was made to resume the deep seaport project as quickly as possible. The project will create jobs for the locals in the country and the people in Kyaukpyu region of Rakhine and support the country’s socioeconomic status. Similarly, it will promote bilateral trade and economic cooperation between the two countries. 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 Kyaukpyu Deep Seaport Project will be the first international seaport in Myanmar. The industrial park project will also be implemented with the deep seaport project to provide the locals with job opportunities.
General Mya Tun Oo then wished to start the project and cooperate more closely in various sectors, including bilateral trade and investment.
Then, Chairman of the Myanmar Special Economic Zone Central Working Committee Union Minister U Aung Naing Oo, CITIC Group President and Chargé d’affaires ai of the Embassy of the People’s Republic of China briefed the signing of the Addendum to Concession Agreement. 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.
Union Minister U Aung Naing Oo and Mr Liang Chuanxin told the media that the project is a four-phase project containing ten jetties where the ships can dock. It can accommodate about seven million 20-foot containers per year once completed.
The products, including the goods of Myanmar, can be exported directly to African countries, South Asian countries, and European countries. Currently, the goods are transported via Singapore and Malaysia. The project’s Environmental Impact Assessment (EIA) is completed at about 85 per cent.
They also talked about the cooperation to start the project, demands of Kyaukpyu residents to begin as quickly as possible, creation of job opportunities and promotion of the socioeconomic status of people in Rakhine, including Kyaukpyu, promotion of Myanmar-China bilateral trade and economic cooperation, Myanmar’s first international deep seaport when completion, focal trade sites for Asia, Africa and EU, improvement of socioeconomic of Myanmar and regional countries as a door to the world.
The dinner event was also organized, marking the signing of the Addendum. — MNA/KTZH

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