An economic zone will be established along Muse-Ruili border as part of the border region economic cooperation initiatives between Myanmar and China, according to Aung Htoo, Deputy Minister for Commerce on May 23.
The deputy minister announced the plan at a press conference for a second year activities of the current government held at the Ministry of Information in Nay Pyi Taw. The Muse-Ruili border has been projected as the optimal area for a planned economic zone after conducting a feasibility assessment by making study trips to economic cooperation zones implemented between China and other countries, said Aung Htoo. A steering committee for the project has already formed, he said. Myanmar officials signed an agreement with Chinese counterparts to set up a border region economic zone during a One Belt One Road (BRI) forum held in China in 2017.
The first phase of the Muse-Ruili border region economic zone will comprise nine sections, five on Chinese side and four on Myanmar side. At the current, local businessmen have been invited to offer expressions of interest (EOI) for the project, and officials will collect inputs from them to continue the plan.
