A Memorandum of Understanding (MoU) for the development of a power plant at the Dawei Deep Sea Port was signed on June 5 between Russia’s Inter RAO Company and Myanmar’s Launglon Economic Development Company Limited.

The signing ceremony took place during Vice President U Nyo Saw’s visit to the Russian Federation.

Earlier, Vice President U Nyo Saw met with a delegation led by Mr. Ivan Viktorovich Polyakov, Chairman of the Russia-ASEAN Business Council, at the EXPOFORUM Convention and Exhibition Centre in St. Petersburg. During the meeting, the two sides discussed ways to further strengthen ties between Myanmar and the Russia-ASEAN Business Council and expand cooperation in a range of sectors, including trade and investment.

Following the discussions, officials from Inter RAO Company and Launglon Economic Development Company Limited signed and exchanged the MoU documents for the Dawei Deep Sea Port power plant project in the presence of the Vice President and the Minister of Economic Development of the Russian Federation.

On June 4, a separate Memorandum of Understanding on Economic and Investment Cooperation was also signed and exchanged between Myanmar’s Ministry of National Planning, Investment and Foreign Economic Relations, the Ministry of Commerce, and the Russian Federation’s Fund RC-Investments.

Vice President U Nyo Saw and his delegation also attended the 29th Plenary Session of the St. Petersburg International Economic Forum, held on the afternoon of June 5 at the EXPOFORUM Convention and Exhibition Centre.

The session was attended by Russian President H.E. Mr. Vladimir Putin, Uzbek President H.E. Mr. Shavkat Mirziyoyev, Tanzanian President H.E. Mrs. Samia Suluhu Hassan, Chinese Vice President H.E. Mr. Han Zheng, as well as senior government officials and business leaders from participating countries.

President Vladimir Putin delivered a keynote address and moderated the forum discussions.