Only when special economic zones promptly improve will the State economy and job opportunities for local people and living standards develop: Vice-Senior General

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State Administration Council Vice-Chairman Deputy Prime Minister Vice-Senior General Soe Win addresses the meeting 1/2022 of the Myanmar Special Economic Zone Central Committee in Nay Pyi Taw yesterday.

It is necessary to practically operate SOPs of relevant ministries for successful implementation of the targets and give good services at the zones in line with the international work procedures, said Chairman of the Myanmar Special Economic Zone Central Committee Vice-Chairman of the State Administration Council Deputy Prime Minister Vice-Senior General Soe Win at the meeting 1/2022 of Myanmar SEZ Central Committee at the Ministry of Commerce yesterday afternoon.
In his address, the Vice-Senior General said a total of 147 countries have established some 5,400 special economic zones according to the statistics in 2019. These are new developments in the industrial policies to attract foreign investments.
Myanmar amended the Special Economic Zone Law 2011 in 2014 and enacted the Myanmar SEZ Rules in 2015. According to the rule, the central committee holds meetings twice a year, and the current meeting is the first time in 2022.
Section 6 of the law mentions the duty and functions of the central committee, primarily to adopt the projects and plans for SEZ development and lay down, implement and supervise the procedures and frameworks, inspect them at an appropriate time and contact the government organizations.
Myanmar is implementing Thilawa SEZ in cooperation with Japan, Kyaukpyu SEZ with China and Dawei SEZ with Thailand. In cooperation measures, Myanmar needs to focus on its own interests and emphasize bilateral friendly relations.
Thilawa SEZ is being implemented successfully as a standing model. Relevant ministries need to arrange continuous investments for the zone, an increasing number of new companies and investments as well as operating businesses for investors.
It is necessary to practically operate the SOPs of relevant ministries for successful implementation of the targets and give good services at the zones in line with the international work procedures. In order to have greater progress, the SEZs have formed one-stop service centres for a boost in export volume with effective services.
The management committee needs to provide assistance for operating businesses with momentum at Thilawa SEZ, extending investments and attracting new investments.
The framework agreement for the deep-sea port project of Kyaukpyu SEZ was signed on 8 November 2018, the shareholder agreement in January 2020 and the concession agreement in January 2020. It is necessary to have a win-win situation based on taking care of political sensitivity. Successful implementation of the deep-sea port project will contribute to Myanmar-China economic corridor cooperation project. As Kyaukpyu SEZ is related to China’s Belt & Road Project, it will bring bilateral benefits and regional development to Myanmar.
Although Dawei SEZ has been implemented since 2008, remarkable progress cannot be seen. As Italian-Thai Co has been terminated, it is necessary to invite new investors for the SEZ.
Only when special economic zones promptly improve will the State economy and job opportunities for local people and living standards develop. Hence, it is necessary to make efforts for the successful development of SEZs.
Secretary of the Central Committee Union Minister for Commerce U Aung Naing Oo explained matters related to Myanmar SEZs. The reports sent by the chairmen of SEZ were presented and approvals were sought.
Union ministers and region and state chief ministers also discussed undertakings at relevant SEZs. Joint Secretary of the central committee Deputy Minister U Nyunt Aung sought the approvals for the minutes of the central meeting on 1/2022.
The meeting ended with remarks from the Vice-Senior General after responding to the reports. — MNA

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