YANGON – Myanmar urged Chinese investors to invest in the Kyauk Phyu Special Economic Zone (SEZ) during a bilateral trade meeting on Saturday, according to the Directorate of Investment and Company Administration (DICA).
Located on the western coast of Myanmar, Kyauk Phyu Project is one of three special economic zones in the country. The other two projects are Thilawa SEZ and Dawei SEZ, where Japanese and Thai companies are investing.
“Kyauk Phyu SEZ project includes a deep sea port construction. Oil and gas pipelines from Kyauk Phyu to Kunming, China, have been built. Construction of Kyauk Phyu-Kunming railroad will soon begin. So I would like to urge the Chinese business people to take investing in Kyauk Phyu SEZ into serious account,” said Aung Naing Oo, Director General of DICA, during the China-Myanmar Trade Coordination Meeting held in the Chinese border town of Ruili
Aung Naing Oo also mentioned that China is the largest trading partner and investor in the country, and it still remains as Myanmar’s most important partner.
“Now we are trying to improve the infrastructure. We are also inviting foreign investments. So it is the best time for Chinese businessmen to invest in Myanmar,” he said.
Meanwhile, Shwe Gas Project,which has recently started exporting natural gas to China, is facing land disputes and disagreements over compensation for land confiscated from local farmers.
“Regarding China’s offer to undertake Kyauk Phyu-Kunming Railroad Project, Myanmar government should discuss it with the parliament and local people before it proceeds,” said Myint Wai, general manager at the Ministry of Rail Transportation.
Source: ELEVEN Myanmar