Aye Myint, Labour, Employment and
Social Security Minister, speaking at a press conference on Saturday,
tried hard to clear a growing public concern about the fate of the
company running the project that was recently registered in Thailand.
“The project will not be controlled by
Thailand as the others say. Special Purpose Vehicle-1 was registered in
Thailand to be able to get international loans and to sell shares as a
public company in Thailand’s capital market,” said Aye Myint, the former
indusrial minister.
“Like Special Purpose Vehicle-1 that is
regarded as the Dawei economic zone development company, Special Purpose
Vehicle-2 will be formed by Myanmar and Thailand. It will be registered
in Myanmar to sell shares locally,” he added.
Dawei Deep Seaport and Special Economic
Zone Project was first initiated by the Italian-Thai Company in 2008.
Following the Italian-Thai’s difficulty in financing the project
implementation, Myanmar and Thai governments formed a joint venture
named Special Purpose Vehicle-1 to overcome the bottleneck.
“The Italian-Thai has not withdrawn from
the Dawei project but it will no longer have complete control over the
project as before even if the company would make reinvestments,” said
Set Aung, chairperson of rules and regulation sub-committee for Dawei
project and the deputy minister for national planning and economic
development.
Meanwhile, Myanmar’s Foreign Affairs
Ministry and Thailand’s Neighboring Countries Economic Development
Cooperation Agency are discussing the required agreements between
Myanmar and Thai shareholders and the association policies. The two
countries are also making discussions with Japan inviting its
partnership for the Dawei project.
source: Eleven Myanmar
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