Dawei Deep Sea Port Project (Photo-Phyo Zin/EMG)
The Italian-Thai Development
Company has yet to cease their operation at the Dawei Special Economic
Zone and will quit after the treaty between Myanmar and Thailand goes
into effect, said Minister for Labour, Employment and Social Security
Aye Myint, who is also a Chairman of the Central Working Committee for
Implementation of Dawei SEZ.
For the Dawei SEZ and its related
projects to be successful, Myanmar and Thailand will have to sign
agreement between share holders, and other agreements. Both countries
will hold equal shares in the company through Myanmar’s Foreign Economic
Relation Department (FERD) and Thailand’s Neighbouring Countries
Economic Development (NEDA).
Although the progress in Dawei SEZ is
halted, the company which are replaced in place of Italian-Thai
Development Company have to give back the money invested by the
Italian-Thai company, said Set Aung, Chairperson for Rules and
Regulations Sub-Committee and Vice Chairman of Central Bank of Myanmar.
“The highway road constructed by the
Italian-Thai company is good enough to drive big trucks. The company
which will implement the Dawei SEZ have to give back the cost of the
road to the Italian-Thai company,” he said.
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