Kyaukpyu Deep Sea Port will help boost trade: Chinese ambassador
23 May 19 - Source: Global New Light Of Myanmar - If the strategically important Kyaukpyu deep sea port in Rakhine State is developed systematically, it will help the country's trade sector grow, said Mr Hong Liang, the Chinese Ambassador to Myanmar.
Myanmar is implementing three special economic zones, including the Kyaukpyu Deep Sea Port and the Kyaukpyu SEZ. "The deep sea port will play a pivotal role in the development of the country. Imported goods are flowing into Myanmar through Singapore, resulting in additional cost. There is still no deep sea port in Myanmar. By doing so, the implementation of the Kyaukpyu Deep Sea Port will promote trade as well as foreign investment. It will also contribute to the peace and stability of Rakhine State," said the Chinese ambassador.
He made the remarks at the 1st China-Myanmar tea party with media agencies. The Kyaukpyu SEZ aims to build an economic corridor between China, India, and the ASEAN countries. The initiative began in December, 2015. A Chinese corporation is developing the deep sea port and the SEZ.
The deep sea port will have the capacity to handle 7.8 million tons of goods and 4.9 million containers yearly. The Kyaukpyu SEZ will be established over 1,000 hectares of land.The government is inviting investors to invest in building fundamental infrastructure, such as electricity, telecommunication, water facility, and road upgrade. The deep sea port is expected to reach a developed stage in 20 years.—Myint Maung Soe (Translated by Ei Myat Mon)