A tender process will start after the location for China-Myanmar Border Economic Cooperation Zone has been selected, China-based Paukphaw news agency reported.
Those wishing to invest in the zone project may apply for tender when the process starts, according to Myanmar's Ministry of Commerce.
Muse and Chinshwehaw of Shan State and Kanpaikti of Kachin State have tentatively been chosen for setting up China-Myanmar Border Economic Cooperation Zone.
Currently, preparatory tasks including zone location selection are under discussion, Paukphaw news agency quoted Khin Maung assistant permanent secretary of the ministry as saying in Shwe Zarmani newspaper.
During Chinese visit to the State Counsellor Aung San Suu Kyi in August 2016, agreement was reached to build border economic cooperation zones. According to the agreement, a memorandum of understanding was signed in May 2017.
Union Minister for Commerce Dr Than Myint said that the establishment of border economic zones would help promote local and foreign investments, create business opportunities in the region and job opportunities for local people. It could also help develop SMEs and improve production capacity, thus promoting bilateral trade, the minister added.
The One Belt One Road Initiative China is implementing is a project creating economic links between China and global countries. China is also implementing the 21st Century Silk Road project. The construction of border economic cooperation zones between China and Myanmar is part of the One Belt One Road Initiative as well as Myanmar-China Economic Corridor.
