The Nation
Thai Deputy Prime Minister
Niwatthumrong Boonsongpaisan yesterday flew to Yangon to attend a
meeting of the Thai-Myanmar Joint Coordinating Committee (JCC) with
Myanmar and Japan over the Dawei development project.
As JCC president, Myanmar is hosting the
tripartite talks in Yangon. This will be the first time Japan will be
joining the talks after being invited to invest in the project.
Japan was invited as an observer at the
joint high-level meeting committee last June, said Arkhom
Termpittayapaisith, secretary-general at the Office of the National
Economic and Social Development Board. However, Arkhom said Japan had
not decided whether to invest in the Dawei project because of the huge
outlays required.
The meeting will report progress in
infrastructure projects such as road development, the deep-sea port, the
industrial park, the township in the industrial park, and development
of the electricity and water systems.
Arkhom said Japan wanted to hear
Thailand's opinion and also to know how committed Myanmar was to
investing in this project. In general, government will have to invest in
the mega-project, especially in infrastructure, to persuade investors
to get on board and strengthen their confidence for the long term.
The meeting will also discuss progress
in establishing a Special Purpose Vehicle (SPV) as investment
legislation is approved by Myanmar's parliament. This would give
investors clearer information on what privileges the government can
offer.
Project management and the regulating
role of the SPV will be considered. The SPV will be a company holding
the Dawei project concession. It will define the direction of
infrastructure investment - for example, whether a project will be
solely the government's responsibility or will be a joint investment of
the government and the private sector.
The talks will also focus on planned
roadshows abroad to attract investors. Hiring of a consulting firm to
evaluate Italian-Thai Development is under consideration. The firm has
initially invested in the project to clear area for roads and port
facilities. The meeting will also discuss moving the local community out
of the area.