The government has allocated funds towards repairing and upgrading the Kyaukphyu Airport in Rakhine State, said U Kyaw Myo, deputy minister of Transport and Communications.U Kyaw Myo revealed that more than K500 million in state funds has been submitted for the development of Kyaukphyu Airport in fiscal 2020-2021. The minister was responding to questions raised […]
Industrial zone in Kyaukphyu SEZ to be built at $30B
February 25, 2020 by
An industrial zone project within the Kyaukphyu Special Economic Zone (SEZ) in Rakhine State will be developed for US$30 billion, deputy commerce minister U Aung Htoo told Pyithu Hluttaw this week. CITIC Consortium from China owns 51 percent of the industrial zone while the Myanmar government owns 49pc, he said. The industrial zone will be […]
Deal Signed to Purchase Power from Kyaukphyu Power Plant Project
November 16, 2019 by
According to a statement from the MOEE, the power purchase agreement (PPA) was signed last Tuesday. Kyauk Phyu Electric Power Co is a joint venture between Myanmar’s Supreme Group and Chinese state-owned firm Power China. The gas-fired power plant in Kyaukphyu, Rakhine State, is one of four projects expected to generate a total of 3111MW […]
Taking a Quantum Leap to Revamp Myanmar’s Economy
September 25, 2019 by
YANGON—Since last year, Myanmar officials responsible for drumming up foreign investment have been shuttling between Naypyitaw and Asian countries to pitch the government’s latest legal, procedural, and institutional reforms to potential investors as part of efforts to revitalize the country’s economy. State Counselor Daw Aung San Suu Kyi often highlights foreign direct investment (FDI) as […]
China-Backed Venture Proposes $800M Development Near Kyaukphyu Seaport
July 15, 2019 by
YANGON—A Chinese petrochemical giant and a Myanmar firm have jointly proposed to the Rakhine State government the development of nearly US$800 million (1.21 trillion kyats) worth of projects near the Kyaukphyu Special Economic Zone (SEZ)’s deep seaport and Ramree Island. The centerpiece of the proposal is a new logistics terminal on Maday Island situated 10 […]
Amid Int’l Espionage Concerns, Mandalay to Embrace Huawei for ‘Safe City’ Project
June 20, 2019 by
As part of its high-tech makeover to become a “smart city” with a view to enhancing the rule of law and security, Myanmar’s second largest city Mandalay is ready to embrace Huawei, prompting questions about whether upper Myanmar’s business hub will become prone to data theft and state-sponsored spying—both of which the Chinese telecom giant […]
Gov’t Spells Out Conditions for Signing BRI Deals with China
June 3, 2019 by
A senior Myanmar official revealed that the government has drawn up a set of conditions for signing memorandums of understanding (MOUs) related to Beijing’s grand infrastructure projects in the country in order to avoid falling into a “debt trap” with China and to ensure the projects benefit both countries. The conditions include acquiring international financing […]
Myanmar Signs 3 Agreements at Belt and Road Forum
April 30, 2019 by
Myanmar’s government signed two memorandums of understanding (MOUs) and an agreement letter with China at Beijing’s Belt and Road Forum on Thursday, detailing strengthened cooperation between the countries on the China-Myanmar Economic Corridor (CMEC), trade and technology. According to the Ministry of Information, Myanmar State Counselor Daw Aung San Suu Kyi and Prime Minister of […]
Australian Firm Seeks to Reassure Locals on Gas Drilling off Rakhine
April 9, 2019 by
YANGON—Australian energy giant Woodside is stepping into war-torn Rakhine State with a plan to begin drilling in two oil-and-gas blocks in the Bay of Bengal. This week the company sought to reassure residents in southern Rakhine State’s Kyaukphyu that there was a need for the projects, citing the potential economic benefits and pledging to minimize […]
