A public company comprising Myanmar enterprises will be established for a Kyaukpyu special economic zone project, according to the Kyaukpyu SEZ Management Committee (Yangon).
Kyaukpyu SEZ plays an important role in enhancing Myanmar’s economy.
China’s CITIC Group Corporation gained a significant foothold with 85 per cent of the shares in the project, with only the remaining 15 per cent available to citizens.
Myanmar entrepreneurs expressed their dissatisfaction, so a public company comprising Myanmar businessmen are being set up for Kyaukpyu SEZ Project.
In a bid to review and scrutinise the project, Kyaukpyu SEZ Management Committee was formed. Those who want to cooperate in the public company were asked to submit an application to the committee by 15th December, but the date has been extended one more month to meet the target in establishing the public company, it is learnt.