Myanmar confident of peace for neighbor's investment

Myanmar President Thein Sein expressed confidence in a lasting peace in his country's northern area and pledged follow-up efforts to help Chinese investors carry out economic cooperation projects smoothly.

In an exclusive interview with China Daily, he also pinned hopes on the development of bilateral energy and transportation projects as Myanmar sought more investment and benefits from China-led transcontinental connectivity initiatives.

The president did not shy away from questions about the challenges faced by major Chinese investments, including the Myitsone dam project, which has encountered complaints from local residents.

"At present there have been some difficulties in this sector, but I'm sure we will be able to overcome these difficulties and we will be able to carry out the projects.

"The Myitstone dam has not been put aside. It is just been suspended. I believe with the understanding of the local people, there is a possibility of resuming the Myitstone project," he said.

Another project with Chinese investment, involving the Letpadaung Copper Mine in the central region, has met with similar challenges.

"We have asked the president's office to form a committee to supervise and solve the difficulties with the people at the grassroots in that region," Thein Sein said.

The construction of hydroelectric power plants is also possible on six other locations on the China-Myanmar border, and Thein Sein said authorities have been discussing the potential of these projects with Chinese companies.

Myanmar is strategically located in the middle of South and Southeast Asia, and "in this regard, Myanmar will also contribute to China's proposal to establish the Maritime Silk Road".

"It will also be an opportunity for China," he said.

The two countries are now working on the China-Myanmar Oil and Gas Pipeline Project and a rail link.

"With the completion of these projects, it will also help China to have maritime access to the Indian Ocean," he said.

China remains the largest investor in Myanmar, and Chinese companies have invested in its resources and minerals sector.

To help strengthen local people's understanding and acceptance, the president suggested that Chinese companies investing in Myanmar should "do more for the social and economic development of the people in that locality".

"For instance, they could provide opportunities for local people to have better incomes, to construct schools, dispensaries and hospitals to provide better services," he said.

There are many places where Chinese companies have been carrying out corporate social responsibility work and "there have been no problems with Chinese investment", he said.

To further address the challenges faced in Myanmar's northern area, the government is trying to negotiate and sign a nationwide cease-fire agreement with all ethnic armed groups following the years of conflict there, Thein Sein said.

President Xi Jinping had also delivered hope to the Myanmar government that "a lasting peace would be achieved at an early date" in the northern part of the country.

Peace and stability in the area will "definitely contribute to a better climate of investment", Thein Sein said.

(China Daily 11/10/2014 page25)