 |
| Graphic on Myanmar port development |
The area has been chosen for a vast port complex that is the latest example of how foreign investment from Asian allies like China and Thailand is transforming the military-dominated nation despite Western sanctions.
Some believe the 10-year, US$8 billion (S$9.8 billion) Dawei Development Project, led by a Thai industrial giant, could invigorate the country's impoverished economy and revolutionise regional trade.
But hopes that the planned deep-sea port and giant industrial estate will inject much-needed investment have been tempered by fears about a potential influx of 'dirty' industry and concerns that it will displace thousands.
'Myanmar still ignores environmental issues', said Tanit Sorat of the Federation of Thai Industries in an interview with AFP, citing lack of regulation as a key advantage of Dawei.
'Dawei is the world's solution for industry that affects the environment, heavy industry and the industry that is banned in other countries,' he said, adding the entire project could be worth US$60 billion dollars or more. -- AFP
Source: http://www.physorg.com/news/2011-06-myanmar-deep-sea-port.html
