Names of Myanmar citizen-owned companies investing in Kyaukphyu Deepsea Port project to be announced
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Khit/Yoon (NP News) - Dec 31
Among the list of the companies that proposed to invest in the Kyaukphyu Project, the selected companies that are owned by the Myanmar nationals will be announced after January 2024.
Union Minister U Aung Naing Oo, Chairman of the Central Working Group of the Myanmar Special Economic Zone, said the abovementioned information during the signing ceremony of the Addendum related to the Kyaukphyu Deepsea Port project held recently.
“Currently, Myanmar nationals’ companies were invited as the government recognized companies which do not have foreign investments. The companies established by Rakhine ethnics will be favoured. The government announced the business invitations. At the end of January 2024, the lists of companies that are complied to the criteria will be announced,” U Aung Naing Oo said.
In November, the government invited the companies that are interested in developing the Government Designated Entity Consortium in state-owned newspapers so that citizen companies could participate in the Kyaukphyu Deep Sea Port project.
In the project, China will contribute 70 percent and Myanmar will contribute 30 percent, while the Myanmar government will contribute 15 percent and private entrepreneurs will contribute 15 percent.