SITTWE—A public company comprised of 11 Myanmar businessmen has been established for the Kyaukphyu Special Economic Zone (SEZ) project, according to local reports.
Mya Han, also chairperson of the Fortune International Company in Myanmar, will be acting as chair of the newly formed public company.
Nearly US$ 277 million (Ks 269.5 billion) will be spent to build the Kyauk Phyu SEZ. According to international rules and regulations, Singapore-based CPG Consulting Company has been selected as an adviser to invite developers who want to invest in the SEZ.
The Kyauk Phyu SEZ is now being implemented in four phases. Among them, three phases have been completed.
For the final stage, the implementation of SEZ tasks will be carried out once the developers have been chosen.
Source: ELEVEN Myanmar