Ministry to solicit EOI for border economic zones

The government is moving ahead with plans to develop three areas along the Myanmar-China border as economic zones, Deputy Commerce Minister U Aung Htoo said.

The plan to develop the border economic zones is one of five agreements signed during State Counsellor Daw Aung San Suu Kyi’s visit to China last year.

In July, the central committee set up to steer the project held its first meeting on implementing the border economic zones which are aimed at boosting manufacturing and tourism in both countries.

According to the Ministry of Commerce, the three areas in Myanmar identified for the project are around Muse and Chin Shwe Haw in Shan State, and Kan Pite Tee in Kachin State.

Currently, the area between Muse and Shweli, in China’s Yunnan, is being prioritised for development and next month, the two countries, with help from the private sector, will discuss in detail what industries to focus on in the economic zone, U Aung Htoo, explained.

He said the ministry will soon solicit “expressions of interest” to implement projects in the economic zones and the proposals from the private sector will be analysed for their suitability for implementation in the economic zones.

The value of border trade in the Muse area is estimated to have reached US$5.8 billion (K9.7 trillion) last year. In Chin Shwe Haw and Kan Pite Tee, it reached $570 million and $110 million, respectively.

Source: Myanmar Times

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