August 19, 2016

SEZs critical to job creation, exports – Vice President

Vice President U Nyan Tun delivers speech at Myanmar’s SEZ central committee meeting.—MNA
Vice President U Nyan Tun delivers speech at Myanmar’s SEZ central committee meeting.—MNA

Nay Pyi Taw — Vice President U Nyan Tun said on Thursday that Myanmar must create a favourable environment to attract foreign investment by adopting a legal framework that is in accordance with international norms.
He made the remarks to members of the Central Work Committee for Myanmar Special Economic Zones, which he chairs.
During his speech, he said that the three SEZs in Thilawa, Dawei and Kyaukpyu are being developed with the aim of promoting exports, creating jobs and establishing markets for small and medium enterprises. He said that the success of the SEZs in attracting foreign investment will rest to a large extent on simplifying existing rules and regulations, which he said are more complicated in Myanmar than other ASEAN countries.
In addition to following international legal norms, ‘one-stop service centres’ for investors will increase Myanmar’s attractiveness, the vice president added.
He urged participants to adopt international practices as standard operating procedures and to abide by environmental laws and international laws.
The Vice Chairman of the work committee Union Minister Dr Kan Zaw and Secretary Deputy Minister Daw Lei Lei Thein briefed the vice president on the issuance of rules for SEZs and the notifications and measures made to date.
The chairmen of each SEZ updated the vice president on the work being carried out at the respective project sites.
Around 90 percent of the first phase of Thilawa SEZ, which covers 400 hectares, has been completed and will open shortly.  A feasibility study for the second phase is currently being carried out.
The chairman of Dawei SEZ said that a number of agreements have been signed with Thailand and Japan for the development of the SEZ.
The secretary of Kyaukpyu SEZ said that tenders have been called to develop the SEZ and that proposals are being scrutinised by a team of 16 experts.
The meeting concluded with the vice president reiterating the need for all involved to make a concerted effort to develop the SEZs in the interests of the people.—MNA


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