Union Minister for Commerce U Tun On said that efforts are being made to implement the Kyaukphyu Special Economic Zone Deep Sea Port Project by setting a timeline.
He gave the remarks at a business coordination meeting regarding the prerequisites on the both sides that Myanmar and CITC Group must fulfill in order to implement the Kyaukphyu Special Economic Zone Deep Sea Port Project, held in Nay Pyi Taw on February 28.
U Tun Ohn said that the Kyaukphyu Special Economic Zone Deep-sea Port Project is important for Myanmar as well as for China as it is an implementation of the Myanmar-China Economic Corridor cooperation project which is strategic for China.
Union Minister for Investment and Foreign Economic Relations Dr. Kan Zaw said that the Development Plan had been drafted to quickly launch the deep-sea port project which is important for economic development between Myanmar and China and it should be drafted to be better, in line with the modern system.
The Kyaukphyu Special Economic Zone Deep Sea Port Project agreement with China’s CITC Group was signed in 2020, and a follow-up agreement was signed in December 2023, extending the Long Stop Date by 18 months.
