Myanmar, Thailand to Advance Development on Dawei SEZ

BANGKOK, August 9 (TNA) - Myanmar’s Vice President U Nyan Tun is optimistic that an initial phase development of the Dawei Special Economic Zone (SEZ), signed by Myanmar and neighbour Thailand, would create about 300,000 new jobs for local people by 2025 and would bring foreign investments and advanced technologies to Myanmar. Senior level committee members of the two countries met in the Myanmar capital of Nay Pyi Taw last Wednesday during which the initial phase development concession agreements were signed between the Dawei SEZ management committee and a consortium of developers. Deputy Thai Prime Minister Mom Rajawongse Pridiyathorn Devakula and U Nyan Tun co-chaired the meeting. Hailing the success of the meeting, Mom Rajawongse Pridiyathorn said four major issues were approved at the meeting. Apart from the approval of the initial phase development of the Dawei SEZ and an additional memorandums of understanding, several projects including small port, an industrial estate, small power plants, water reservoir, telecom landline and residence for workers were also approved, said Mom Rajawongse Pridiyathorn. Participants at the meeting approved in principle to use the Thai currency, the baht, in making business transactions and investment within the Dawei SEZ . U Nyan Tun said that investment for the initial phase development would be approximately 1.6 billion US dollars and construction would be complete in eight years. (TNA)