Development Chronology - Benefits

 

Development Chronology

 

The Dawei Deep Sea Port Development together with the industrial estate and related supporting facilities, are to be implemented as the manufacturing trading hub of the region to respond to progressive trade and increase economic growth within Southeast Asia and South China, along with continuing demand for sea transportation in the Indian Ocean and Andaman Sea.

 

Government of the Kingdom of Thailand and the Government of the Union of Myanmar signed the Memorandum of Understanding ( MOU ) on May 19^th, 2008 to develop a deep sea port in Dawei and a connecting road link to Bangkok, Italian-Thai Development Public Company Limited ( ITD ), the project feasibility and engineering design are on the due process toward implementing the project effectively.

On June 12^th, 2008 Myanmar Port Authority as authorized implementing agency and ITD signed a Memorandum of Understanding ( MOU ) relating to the implementation of a feasibility study and comprehensive project site for the Dawei Deep Sea Port and Industrial Estates Development Project ( henceforth referred as the “Project” ). Under such MOU, there is also a proposal to develop cross-border road link from Dawei to Thailand in order to enhance an integrated logistic system.

On November 2^nd, 2010, the Framework Agreement was signed and that granted ITD the right to develop and operate over 75 years land lease period for the Dawei Project with an associated deep sea port, industrial estate, transborder corridor link and supporting infrastructure.

On June 25^th, 2012, Ministry of Finance of Thailand authorized a working group in order to provide financial support for the Development of Dawei Deep Sea Port and Industrial Estate Project. The Chairman of the Committee is the Director of the Fiscal Policy Office. The working group consists of representatives of the Office of the National Economic and Social Development Board (NESDB), the Export-Import Bank of Thailand (EXIM Thailand), the Office of the State Enterprise Policy Committee and other government representatives.

On July 23^rd, 2012, the Government of the Kingdom of Thailand and the Government of the Republic of the Union of Myanmar signed a Memorandum of Understanding (MOU) on the Comprehensive Development of the Dawei Special Economic Zone and its related project areas in order to further enhance the two government’s support and cooperation of the Dawei Project; whose Italian-Thai Development Plc. (ITD) was granted the right to develop the Dawei project from the Myanmar Government.

The Investment Project content in Dawei will be for the development of a deep sea port, an industrial estate divided into six industrial zones including a residential/commercial zone with related infrastructure within the industrial estate, a connecting road and rail link to Thailand as well as oil and gas pipeline from the Gulf of Martaban to the Myanmar/Thailand border along the road and rail link.

 

Benefits

 The Dawei Deep Sea Port Development and related facilities will generate income stream for the Myanmar Government through taxes from the Project and other related upstream and downstream projects. The Project will also generate a very large amount of employment and increase living conditions for the Myanmar people as needed for the project development. In addition, the Republic of the Union of Myanmar will benefit from the increase foreign trade and investment to the country where the development and utilization of the Dawei Deep Port and Industrial Estate will transform Dawei into a newly opened investment destination and logistic hub of the region. The Dawei Deep Sea Port Development and related facilities would increase the economic value to not only the Republic of the Union of Myanmar, but also to the region as a whole.