Dawei seeks Japanese input
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Efforts are being made to tap Japan's expertise in "clean" coal technology for the Dawei Special Economic Zone Project.
Since breaking ground in 2008, the Dawei Special Economic Zone and deep sea port project has drawn criticism from local communities and civic organisations for plans to use coal plants to generate electricity.
“Our country need to construct coal plants to generate power to fulfil the needs of electricity. For that reason, Japan is needed to join the giant project as a strategic partner,” said Thura Thaung Lwin, chairman of the Dawei Management Committee.
Negotiations with Japan over Dawei are ongoing, with Thailand already investing in the project.
“The next tripartite meeting will be organised by Thailand. Our invitation to Japan is not for investment in the project but for a third country to be a strategic partner to manage profit sharing,” said Hset Aung, deputy minister for National Planning and Economic Development.
Two natural gas plants and a coal plant are scheduled for completion by 2015 to fulfil the electricity needs of the Dawei project.
Private banks capped
Myanmar will not permit any more locally-owned private banks to open.
Local firms currently applying to offer their services include the Myanmar Microfinance Bank and Housing Development Bank. A total of 20 local private banks had been opened as of May this year, according to the Central Bank of Myanmar.
“We will not grant permission for new private banks to open, except [branches] of government joint ventures,” said Deputy Minister of Finance Maung Maung Thein. Private banks currently operating expect to open a further 100 branch offices this year.
