2023 Annual General Meeting of Kyaukphyu Special Economic Zone Deep Seaport Co., Ltd Convened
2023 Annual General Meeting (AGM) of Kyaukphyu Special Economic Zone Deep Seaport Co.,Ltd (the Company) was successfully convened on June 30 via a video link connecting venues in Yangon and Beijing. Secretary of Kyaukphyu Special Economic Zone Management Committee U Kyaw Sann Oo and CITIC Consortium Shareholder Representative and Vice President of CITIC Myanmar Mr. Ma Chuanfu attended the AGM, together with Senior Director Mr. Yuan Shaobin as well as Director-General of the Trade Department of Ministry of Commerce of Myanmar U Myint Thura and Kyaukphyu Special Economic Zone Management Committee Chairperson U Myint Thein.
Based on the meeting agenda, Shareholder Representatives of both sides reviewed and approved relevant bills and signed shareholder resolutions. Besides, all attendees had a review of work progress and plans for the next step by service vendor representatives working for the Geo-Survey and Environmental and Social Impact Assessments (ESIA) of the project and a constructive discussion around the project situation.
Chairperson U Myint Thein said that the AGM increased shareholders’ understanding on the operations of the Company and preliminary work of the project. He is convinced that the project will be a complete success with the joint efforts of both sides. Mr. Yuan Shaobin said that the AGM has provided effective support for both shareholders to participate in corporate governance and project development as it serves as a critical link to ensure project operations in compliance with legal rules and regulations. Meanwhile, the Geo-Survey of the project is closing while steady progress is made in ESIA. In view of the progress, Mr. Yuan believes that through friendly communication and effective negotiations, current differences will be properly resolved as to achieve win-win results and make this project a model for Myanmar-China friendly cooperation.
The AGM has laid a solid foundation for both sides to continue with pragmatic cooperation and orderly implementation of project work at each stage in an effort to realize high-quality development of Kyaukphyu Deep Seaport.