Mon 30 Jan 2006
Filed under: Business / Trade,News
Yangon: Thailand has finalized its feasibility study on the establishment of three proposed economic and industrial zones on the Myanmar side along the Myanmar-Thai border, the local Myanmar Times reported Monday.
The finding on the feasibility has been presented to the Myanmar side for deliberation, according to the Myanmar Times.
The study on the establishments in Myawaddy and Hpa-an in southeastern Kayin state and Mawlamyine in southern Mon state was jointly conducted by the Industrial Estate Authority of Thailand and the Myanmar Ministry of Industry-1.
The three special economic and industrial zones constitute part of the economic cooperation strategy (ECS) program agreed upon at a summit of Cambodia, Laos, Myanmar and Thailand held in Myanmar’s ancient city of Bagan in November 2003.
The strategic project, aimed at creating job opportunities in the region, is also known as the Ayeyawaddy-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS).
Myanmar has reportedly allotted 384 hectares for setting up the Myawaddy zone, while 396 hectares for Hpa-an and 275 hectares for Mawlamyine.
Under the Myanmar-Thai cooperation, Thai factories are planned to move to the zones and both countries are expected to benefit from the establishment economically and socially.
The ECS provides for cooperation in five strategic areas covering agriculture, industry, trade and investment, transport, tourist and human resources development.