Quarterly Business Magazine

Kyaukphyu SEZ stalled by Developer selection process

Posted :
Tuesday, June 16, 2015

The Kyaukphyu SEZ management subcommittee has stated that the SEZ has not been developed yet due to the delays in the tender process for the major Developer. It was slated to begin the development in March of this year. The originally set date of selection, at the end of the year 2014, was postponed to January, 2015 because president U Thein Sein had to attend the Military Parade. From then on, it has been six months of total inactivity. In July 2014, there were marketing workshops held in Singapore and Yangon with the aim of attracting and inviting interested parties for the development of the SEZ, provisionally set to begin in March, 2015. A total of 12 interested developers paid USD 1000 each to obtain the application papers. The office of the President will perform the final tender selection from the bidders who have submitted the proper tender documents. The SEZ will contain a deep seaport, Industrial zone and Residential areas.CPG, a consultation agency working with the Myanmar government estimates that it could contribute up to 80% of the country's foreign earnings due to its strategic location linking China-India-and South East Asian countries. At the Yangon workshop, it was announced that the area of the SEZ will be expanded to 4,000 Acres from the previously planned 1,000 Acres owing to the land and terrain.

 

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