Maday Islanders share thoughts on China-backed deep-sea port project
29 Apr 2021
China International Trust and Investment Corporation (CITIC) won contracts for deep-sea port and special economic zone (SEZ) projects in 2015. According to the initial agreement signed with the U Thein Sein administration, CITIC took an 85% stake in the deep-sea port and a 51% stake in the SEZ. But amid political sensitivity surrounding Chinese investment in Myanmar and concerns over China’s reported “debt-trap diplomacy,” CITIC agreed to lower its ownership stake in the deep-sea port project from 85% to 70%.





















