Written by Admin on December 6, 2013. Posted in Business, News
Dawei Special Economic Zone Project, the government's most ambitious project in the southern part of the country, has been suspended following the withdrawal of its major developer Italian-Thai company.
According to chairman Set Aung of the government subcommittee on the project, the multi-billion project has been suspended to assess the progress and investment options.
Set Aung also holds a position in the board of directors of the Central Bank of Myanmar and has been holding the subcommittee chairman post since he was deputy minister of National Planning and Economic Development ministry.
He said Due Diligence Assessment is then required as the investment by Italian-Thai alone is not enough.
The project has been struggling since the project's local partner Max Myanmar withdrew its stakes from the project a year ago.
The committee between Myanmar and Thai governments has also been working on luring Japanese investors to the project in vain.
http://www.information.myanmaronlinecentre.com/dawei-sez-project-suspended/
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