Myanmar, China to sign MoU on economic corridor project

Myanmar is discussing with China to implement Myanmar-China economic corridor project, according to Myanmar Investment Commission.

Aung Naing Oo, Director-General of Directorate of Investment and Company Administration said: “Myanmar and China will sign a contract on the construction of Myanmar-China economic corridor. No exact date has been fixed for the contract signing. But it will materialize in 2018.”

Both sides plan to form working committee for the implementation of Myanmar-China corridor project. All sea exits will be included in the OBOR (Belt & Road) project as corridor.

On May 14, both sides finalized the discussion about the MoU of China-Myanmar economic corridor.

Myanmar will invite local and foreign investments to develop infrastructure, industrial zones, urban projects, agricultural zones, logistics, and border trade and tourism sector, according to the DICA.

This economic corridor will be part of OBOR project.

“Thanks to this economic corridor, there emerge railroads, motor roads and jetties. Not only China but also local and foreign companies will implement the project,” he added.

Source : Eleven Myanmar

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