Thailand’s Deputy Prime Minister Mr. Pridiyathorn Devakula and Myanmar’s Vice President Mr. U Nyan Tun co-chaired the fourth Thailand-Myanmar joint high-level committee meeting for the Dawei SEZ and related project zones. During the meeting, whichtook place in Nay Pyi Taw on August 5 concession agreements for the project’s initial development phase and a supplemental memorandum of understanding were discussed. Concession agreements related to the the initial development phase with the Consortium of Italian-Thai Development, Rojana Industrial Park Public Co, and LNG Plus International were also signed. The Dawei SEZ committee endorsed the master plan for the complete development phase of the SEZ as well as approved the development of the floating LNG terminal.

A small port, a small power plant, a small water reservoir, and a telecommunications system are included in the list of projects that are a part of these deals. It was agreed upon that Thailand’s currency Baht will be used for trade and investment in Myanmar’s special economic zones. As per Mr. U Nyan Tun, it will take eight years to complete the initial phase of the development of the Dawei SEZ and estimated cost is US $ 1.6 billion. It is expected that by the year 2025, Dawei SEZ will provide employed to around 300,000 people.