On August 6, 2020, the project company for Myanmar’s Kyauk Phyu Special Economic Zone (KPSEZ) Deep Sea Port (DSP) was incorporated and registered by CITIC Consortium and KPSEZ Management Committee with the approval of Directorate of Investment and Company Administration (DICA). This marks another milestone for the development of KPSEZ this year.
Certificate of Incorporation and Registration of the project company issued by DICA
During Chinese President Xi Jinping's state visit to Myanmar this year, the transaction documents of KPSEZ DSP Project were signed and then exchanged on January 18 with the witness of President Xi and Myanmar's State Counsellor Daw Aung San Suu Kyi. Following this major progress, CITIC Consortium and KPSEZ Management Committee jointly pressed ahead the registration process of the project company to pave the way for the construction and operation of the DSP.
KPSEZ DSP Project Rendering
KPSEZ was initiated by Myanmar government in an effort to boost local economic development and promote living standards. The DSP, together with the Industrial Park in KPSEZ, are estimated to provide more than 100,000 job opportunities and bring a total tax revenue of USD 15 billion for the government.