A new Special Economic Zone (SEZ) will be implemented in Mon State, Connecting Myanmar with the Mekong Subregion East-West Economic Corridor, Government officials said at a Myanmar-Japan Investment Forum on July 29.
The new SEZ aims to connect with Danang, Vietnam, and will be the largest SEZ in Myanmar if approved, said U Thaung Tun, Minister of Investment and Economic Relations.
It is expected to cost US$117 million to develop and take at least five years to complete.
The criteria for the project includes easy connectivity with countries involved in the economic corridor, being able to construct a deep-sea port and connectivity to Thilawa SEZ via a local transport network, said U Set Aung, Deputy Minister from Planning, Finance and Industry.
To choose a strategic location, feasibility studies will be conducted and a Master Plan will be drafted with help from an international advisory team. Developers will be selected transparently based on a tender system, he said.
The aim of connecting the Mon State SEZ with Thilawa is for the two areas to operate as a single industrial zone with global standards to transparency and quality, U Thaung Tun said.
The project includes enhancing urban management capabilities to develop Mawlamyine in Mon State and Hpa-an and Myawady in Kayin State.-Translated.