Work Coordination Meeting: Implementation of Kyauk Phyu Special Economic Zone

For successful implementation of Kyauk Phyu Special Economic Zone, a coordination meeting on Conditions Precedent to be provided by Myanmar and CITIC was held at the Ministry of Commerce in Nay Pyi Taw on Friday.

Chairman of Myanmar Special Economic Zone Central Working Body Union Minister for Investment and Foreign Economic Relations Dr Kan Zaw discussed the need to complete the tasks before the Timeline.

Vice Chairman of the Central Working Body Union Minister for Commerce U Tun Ohn also discussed for timely completion of the tasks. The attendees also discussed the work progress of respective sectors. Kyauk Phyu Special Economic Zone Management Committee and Chinese CITIC Group Kyauk Phyu Special Economic ZOne Deep Seaport Company Limited signed the Concession Agreement in 2020.

The Addendum for this agreement was signed in December 2023, with 18-month extension for the Long Stop Date which will reach deadline in coming June. There are 16 points which need to to be provided by both sides before the commencement of the project as per the Shareholders’ Agreement for implementation of the Deep Seaport. Among them, 10 points must be provided by Myanmar while the remaining 4 points by China side.