BUSINESS

US$8.5 bln project would see deep-sea port built in Myanmar

2017-05-11 22:35 GMT+8
Editor Huang Yichang
One of the most prominent infrastructure projects in Southeast Asia could lead to the establishment of the biggest shipping port and industrial zone in Dawei, on the west coast of Myanmar. A high-level task force has been set up to beef the development of this project.
An ambitious 8.5-billion-US-dollar plan calls for a deep-sea port and Special Economic Zone, seeing the creation of South East Asia’s largest industrial park.
The project is a joint venture between Myanmar, Thailand and Japan. Business leaders believe the port will transform the region. 
"When the port is built we can send products to other places. There will also be jobs for Myanmar people, even skilled jobs. Because there are very few opportunities here at the moment, most of the young people have to go to Malaysia or Thailand to work."
So far work has been limited to bringing in construction materials and preparing the ground. But the project’s backers say the potential is huge. 
It would provide a maritime short-cut to the markets of India, the Middle East and Europe for countries across South East Asia. It could also open up a new trading route to China .
The establishment of improved connectivity between trading partners is an essential part of China’s Belt and Road Initiative, to stimulate economic growth.
+1
Copyright © 2017 
OUR APPS