Visiting Japanese Prime Minister Shinzo Abe on Saturday visited and witnessed a signing ceremony for a bilateral agreement to develop the first phase of Thilawa Special Economic Zone.
Three Japanese companies and Myanmar
Thilawa SEZ Development Public Company (MTSDPC) will take part in the
first-phase implementation, according to the agreement.
The Japanese companies are Mitsubishi,
Marubeni and Sumitomo, and the MTSDPC is a joint-venture which is formed
with nine public companies.
The first-phase will deal with
calculation of investment amounts and ratios by the two countries, and
selling shares for shareholders-to-be when it’s set.
“We will try our best to prevent any
monopolistic acts over selling shares,” said Set Aung who is the
chairman of Thilawa SEZ Development Management Committee.
Thilawa SEZ will be jointly developed by Myanmar’s companies with 51 percent of stake and Japan’s companies with 49 percent.
The Thilawa project covers an area of over 2,000 hectares between Thanlyin and Kyauktan townships in Yangon Region.
Japan has offered to provide US$205
million as an ODA loan to Myanma Port Authority to build a port in
Thilawa and an agreement will come soon for the loan to be signed.
Japanese government and companies showed
their interests in the zone and Mr Abe’s visit included a delegation of
150 Japanese business leaders.
source: Eleven Myanmar
No comments:
Post a Comment