Amidst the ongoing conflicts in Rakhine State, themilitary junta has signed an addendum to the concession agreement with China toproceed with the implementation of a deep seaport project in Kyaukpyu SpecialEconomic Zone.

The signing ceremony was held on 26 December at Horizon Lake View hotelin Naypyidaw.

According to the addendum, the rapid implementation ofthe industrial park project is set alongside the construction of the deepseaport project within the economic zone.

U Kyaw Shwe Tun, chairman of the Kyaukpyu SpecialEconomic Zone management committee and  Liang Chuanxin, director ofKyaukpyu Special Economic Zone deep seaport company limited signed theagreement.

Deputy Prime Minister and Union transport &communications minister general Mya Tun Oo addressed the signing ceremony.

In  his address, Mya Tun Oo highlighted thatKyaukphyu township, situated in the Bay of Bengal, holds the strategicimportance for future developments. Recognizing the significant economicpotential, the government encouraged international investments to establish aspecial economic zone in Kyaukpyu on 23 November 2011.

Furthermore, the upcoming deep seaport project withinthe Kyaukpyu Special Economic Zone, characterized by a substantial investmentvolume, is anticipated to play a pivotal role in supporting the economic growthof the country.

"This project aims to create job opportunitiesfor the local people and residents of the Kyaukpyu region, thereby contributingto the overall socio-economic development of the country. Moreover, the projectis poised to offer an efficient route for imported products from South Asia,West Asia and African nations to reach the Chinese mainland, leading to reducedtransportation time and expenditures," he added.

The ceremony was attended by CITIC group presidentChargé d'Affaires, representatives  from the China embassy and otherdignitaries, reported the junta-owned newspapers.

Despite the natural resources and strategicgeographical locations, Rakhine State continues to be the second poorestprovince among 14 Myanmar  States and regions as the Rakhine people alwaysface discrimination from the central administrative system, claimed Shweenvironmental activists.

In 2022, the junta earned USD 1.43 billion fromexporting Rakhine natural gas to China, stated the General Administration ofCustoms China (GACC). From 1 April to 1 December 2023, a sum of USD 2.2 billionwas earned by the junta from the export of natural gas to foreign countries.The majority gas reserves originated from the Shwe natural gas project, claimeda MOC statement.