YANGON, Nov 8 (Reuters) – Myanmar on Thursday signed an agreement with China’s state-run CITIC Group to begin work on a deep-sea port in the west of the country, after negotiations that saw the initial phase of the project scaled back over fears of a “debt trap”. Myanmar Deputy Minister of Planning and Finance Set […]
Kyaukphyu SEZ Project Awarded to China for Lack of Options, Ex-Minister Says
August 13, 2018 by
NAYPYITAW—Myanmar’s government did not want Chinese investment in the deep-sea port and special economic zone (SEZ) projects in Rakhine State’s Kyaukphyu, said U Kan Zaw, who served as minister for national planning and economic development under U Thein Sein’s administration. The previous government expected investment from the US and EU in the two projects, U […]
New, Improved Deal on China-Backed Kyaukphyu SEZ Due Soon: Deputy Minister
July 26, 2018 by
YANGON — Since the 2015 elections that swept the National League for Democracy (NLD) to power, the government has been negotiating with the China International Trust and Investment Corporation (CITIC) to raise Myanmar’s stake in the Kyaukphyu SEZ in Rakhine State. The shareholders agreement CITIC struck with the previous government, under President Thein Sein, just […]
New Chair of Kyaukphyu SEZ Wary of Chinese Loans
July 18, 2018 by
YANGON — Myanmar will endeavor to take on no loans from China to complete the Kyaukphyu Special Economic Zone (SEZ) but would offer the developer no sovereign guarantees to mitigate risk if it does, said the project’s new chairman, seeking to allay fears of a debt trap. Sean Turnell, an economic adviser to State Counselor […]
Deputy Finance Minister Named New Chair of Kyaukphyu SEZ
July 17, 2018 by
YANGON — Deputy Planning and Finance Minister U Set Aung has been appointed chairman of the Kyaukphyu Special Economic Zone (SEZ) Management Committee amid the government’s ongoing efforts to renegotiate its agreement with the project’s Chinese developer to give Myanmar a larger stake. The appointment took effect on May 8 and was approved by Vice […]
There’s no Chinese ‘debt trap’, says Myanmar minister, as government pushes for joint port project to go ahead
July 2, 2018 by
Thaung Tun insists his government is keen to press on with deep water project after reports it was negotiating to keep costs down He dismissed the fear of a “debt trap”, saying he was confident it would be a “win-win” deal. “We would like to see this project get off the ground,” Thaung Tun, who […]
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