Special economic zones are important for increasing exports, foreign investment and foreign exchange earnings, says Vice President

The special economic zones currently being implemented are important for increasing exports, foreign investment, and foreign exchange earnings, said Vice President U Nyo Saw, Chairman of the Central Committee for Myanmar Special Economic Zones. This was stated at the coordination meeting of the Central Committee for Myanmar Special Economic Zones held on July 3 at Meeting Hall No. 26 of the Ministry of Finance and Revenue in Nay Pyi Taw. The Chairman of the Central Committee for Myanmar Special Economic Zones stated that the President had given instructions and guidance on the tasks to be carried out for the socio-economic development of the country during the new government's term. He said that the special economic zones currently being implemented are important for creating employment for the people, increasing production and exports, increasing foreign investment, and increasing foreign exchange earnings. He added that in accordance with the President's guidance, it is necessary to link and implement projects of domestic MSME businesses with those in the Thilawa Special Economic Zone. Efforts must be made to ensure that the Kyaukphyu Special Economic Zone, the Dawei Special Economic Zone project, and the deep-sea port project are implemented with phased progress according to the schedule. Regarding special economic zones, it is necessary to ensure that management weaknesses do not arise, that projects are completed within the stipulated period, and that efforts are made to attract investment. It is also necessary to comply with the Special Economic Zone Law and regulations, he further stated. Following this, the chairmen and responsible persons of the management committees of the Thilawa Special Economic Zone, Kyaukphyu Special Economic Zone, and Dawei Special Economic Zone explained the progress of each zone, matters related to management and land compensation, the status of expansion plans, and the business operations of companies within the zones. Subsequently, the Secretary (1) of the Central Committee for Myanmar Special Economic Zones and Union Minister for Finance and Revenue, Dr. Kan Zaw, explained the findings and evaluations regarding the business activities of Myanmar's special economic zones, and the Union Minister and the Union Attorney General explained the laws, bylaws, and contractual matters that need to be complied with in the implementation of special economic zones. Following this, members of the Central Committee for Myanmar Special Economic Zones presented the status of business operations in each zone, sector by sector. Afterwards, the Vice President, Chairman of the Central Committee for Myanmar Special Economic Zones, reviewed and discussed the presentations and coordinated the necessary actions. The meeting was attended by Secretary (1) of the Central Committee for Myanmar Special Economic Zones and Union Minister for Finance and Revenue, Dr. Kan Zaw; Secretary (2) and Union Minister for Commerce and Trade, U Tun Ohn; members of the Central Committee; chairmen and members of the management committees of the Thilawa, Kyaukphyu, and Dawei Special Economic Zones; Directors General; and responsible persons.