Kyauk Phyu SEZ Yangon Road Show into the mitv News

SEZ

The Kyaukphyu Economic Zone is set to be the trade corridor of Myanmar, with Africa, Middle East and China, but while investors are being invited, people hope the development to be open and transparent.

The KyaukPhyu SEZ covers 4000 acres and is located four miles from the Kyaukpyu Township in Rakhine State.

Tender for investment is ongoing, with successful applicants expected to be chosen on December this year, officials said.

Chairman, Kyauk Phyu SEZ Management Committee, Deputy Minister Myint Thein: Three developers will be sought to develop the deep seaport, industrial zone and housing estate. It will create at least 50,000 local jobs.

Executive Director, CPG Consultants Pte Ltd., Nina Yang: Right now, the special interest we are invite potential developer investors for their interest, we were look up their track record we will choose short list and then we will go into for more require prepare set up.

Construction is expected to cost over 270 million US dollars and while regional development is anticipated, people hope it will be transparent and felt even at the grass root level.

Joint Secretary, Bid Evaluation & Awarding Committee, Aung Kyaw Than: We need to make sure that it is an open tender. We expect that the zone will improve the living standard of people.

Chairman, Rakhine Friendship Association, Hla Maung Thein: We welcome Special Economic Zone to make development for our region. But we need transparency. Also Rakhine is rich in natural resources. So it is important not to harm environment because of this project.

Tenders for construction are categorized into three: one for the deep sea port, another for industrial zones and a third for housing estates. Construction is set to begin in early 2015.

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