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Ital-Thai Pulling Out of Dawei SEZ ‘to Facilitate Investment’

19 November 2013

Thailand’s largest construction company, Italian-Thai Development, will cease its operations in the Dawei Special Economic Zone this week to make way for “due diligence assessments,” according to a Burma government representative, who also refuted earlier reports that Ital-Thai had lost its 75-year concession for the project. “It is not true that Myanmar government wants ITD out,” Set Aung, adviser to the President’s Office, wrote in an email to the Bangkok Post. “However, ITD has to stop all its work to have due diligence assessments conducted on these projects. Without due diligence assessment, no other investor will be able to participate in any projects related to the Dawei SEZ development.”