Russia and Myanmar Sign Investment Cooperation Memorandum for Dawei Special Economic Zone

Myanmar and Russia formalized investment cooperation on Sunday with the signing of a memorandum focused on the Dawei Special Economic Zone. The agreement, confirmed by Russia's Ministry of Economic Development, encompasses the construction of a port and an oil refinery within the zone. Maxim Reshetnikov, head of the Russian ministry, and Kan Zaw, Myanmar's Minister for Investment and Foreign Economic Relations, signed the document during a Russian delegation visit to Myanmar. The memorandum outlines fundamental aspects of significant infrastructure and energy projects involving Russian firms in Myanmar, including a port, a coal-fired thermal power plant, and a potential oil refinery. The Dawei special economic zone, spanning 196 square kilometers in the Andaman Sea, aims to host high-tech industrial zones, transport hubs, IT zones, and export processing areas. Since the 2021 military coup, Russia has strengthened its alliance with Myanmar. Discussions are underway regarding enhanced energy collaboration, potentially involving Russian participation in constructing a gas pipeline to Yangon, and plans for a nuclear research reactor in Myanmar.