NCPO approves stalled Dawei project

NCPO approves stalled Dawei project

The military regime has given Dawei development the go-ahead, saying the project will help to smooth investment between Thailand and Myanmar.

The National Council for Peace and Order has agreed that development of the project should proceed as scheduled, said Perames Vudthitornetiraks, vice-president of the Neighbouring Countries Economic Development Cooperation Agency and director of Dawei SEZ Development (DSEZ).

A 50:50 joint venture registered in Thailand, DSEZ is a special-purpose vehicle with a 75-year concession from the Myanmar government to develop the special economic zone and a deep-sea port, replacing Italian-Thai Development Plc, which had received the concession from Myanmar in November 2010.

"Myanmar wants to push the project forward swiftly, as it has been stalled for a long while," Mr Perames said.

"In comparison, the Thilawa Special Economic Zone, a joint venture between Myanmar and Japan, is moving ahead at a rapid pace."

The terms of reference (ToR) for the first-phase bidding of the Dawei project are set to be drafted next month, with potential investors to become clearer in October.

The first phase, located on one-fifth of the Dawei project's total area, will include roads, a port and industrial estates.

The Dawei project, located in eastern Myanmar, has been delayed since ousted prime minister Yingluck Shinawatra dissolved parliament last December.

A source recently said the National Economic and Social Development Board (NESDB) would soon report on updated development to the junta and ask for guidelines on whether and how to proceed.

Two consultancies have also been hired to revise the ToR to make the project more attractive to foreign investors.

Under the original schedule, DSEZ had planned to open the bidding for three construction jobs this past February and announce the results this month.

NESDB secretary-general Arkhom Termpittayapaisith warned that the project would prove difficult to develop if the Myanmar and Thai governments failed to invest in infrastructure and utilities.

Normally, investment in megaprojects or large industrial towns is handled by the government.

The state invests in utilities and infrastructure while offering privileges to persuade the private sector to set up factories.

Thailand and Myanmar last November officially agreed to push the ambitious scheme forward.

Do you like the content of this article?
COMMENT

5kg of 'ice' found in bushes

NAKHON PHANOM: Five one-kilogramme packages of crystal methamphetamine were found hidden in roadside bushes in Pla Pak district on Monday morning.

13:38

Huawei exec to accuse US of misleading Canada in extradition case

VANCOUVER: Chinese Huawei executive Meng Wanzhou and her lawyers return to a Canadian court on Monday to press for her release, arguing the US misled Canada about her alleged crimes to secure her detention on foreign soil.

12:45

+22 Covid+ imports

The government reported 22 new cases of the novel coronavirus on Monday, raising the total to 3,545. The death toll was unchanged at 59.

12:31