Myanmar encourages foreign investment
Myanmar is moving ahead with plans for foreign investment in its port sector to upgrade jetties along the coast into international-standard ports.
Dr Myo Nyein Aye, deputy general manager from the country’s ministry of transport and communications, said there were opportunities in ports on the Ayeyarwady and Chindwin rivers and multimodal logistics hubs in Yangon, Mandalay and Bago, as well as in terminals in Magway, Pyay, Mawlamyine, Dawei, Thandwe and Heho.
“Myanmar’s transport sector lags behind ASEAN… up to $45bn-$60bn in investments are required by 2030,” he said in a statement.
The first initiative is expected to be a port upgrade to increase capacity at existing ports.
“Jetties along the coast are mainly used for handling domestic cargo. They will become international ports when there is an inflow of additional investments,” Dr Myo said.
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