As the Kyaukpyu Special Economic Zone is important economically and politically for the country and can bring many benefits to the country, it needs to be successfully implemented, Vice Chairman of the State Administration Council Deputy Prime Minister Vice-Senior General Soe Win said at the second meeting of the Central Committee on Myanmar Special Economic Zones for the 2024-2025 fiscal year held at the Ministry of Commerce in Nay Pyi Taw on March 11 afternoon.
The operation agreement for the implementation of the Kyaukpyu Deep Sea Port Project of the Kyaukpyu Special Economic Zone was signed on November 5, 2020. The addendum to the agreement was also signed on December 26, 2023 by the project company and the Kyaukpyu Special Economic Zone Management Committee for the expansion period, Vice-Senior General Soe Win said.
The extended period will expire on June 25, 2025, and therefore, it is imperative that both sides complete the work process two months before the deadline. The working committee is working on this and other relevant committees involved need to work together to complete the work as soon as possible despite the constraints, Vice-Senior General Soe Win said.
In addition, by successfully implementing the Kyaukpyu Special Economic Zone Deep Sea Port Project, the country will be able to participate in the Myanmar-China Economic Corridor Project, which will further promote cooperation between the two countries for the Belt and Road Initiative, the Vice-Senior General said.
