BEG, Myanmar group ink deal on socio-economic development

IMPHAL, 20th Oct: Myanmar’s Sagaing-based Chindwin Development Corporation Limited (CDCL) and India’s Manipur-based Business Excellence Group (BEG) signed a Memorandum of Understanding (MoU) for taking up several social and economic development projects.

The MoU was signed between CDCL director Soe Myint and BEG secretary Th Hero in the presence of Committee on Act East Policy convener RK Shivachandra during a simple ceremony held at DC Complex of Tamu town on Friday.

Later, while interacting with media persons, CDCL director Soe Myint expressed hope that the MoU will help in improving trade activities in Myanmar’s Sagaing Region and Manipur. Besides, the agreement will facilitate several projects in tourism, healthcare, education and trade & commerce between the two countries, he added.

The MoU was mainly based on improving better ties between the two countries, taking up joint developmental projects in the border area and cooperation in socio-economic development activities, education, healthcare, economy, transports and communication areas.

The two parties agreed to take up joint projects and extend cooperation and support while upholding the existing laws of both countries. They also agreed to protect cultural heritage and environment and support one another in human resource development, investment, logistic support and improving socio-economic condition of the people living in the border areas, as well as helping each other in service and equipment as and when needed.

They further agreed to sign further documents on project by project basis after consulting authorised officials of both sides. There will be no liability on both sides if supply of materials got delayed due to weather or other reasons, the MoU states. However, the MoU will not be agreement or contract for any project but treated as requisite procedure for taking up any projects. The agreement has a term of up to October 31, 2023.

Myanmar-India Border Trade Chamber of Commerce president Hla Mang, secretary Khin Mang Tin and CEC Myint Tang and BEG representative Ph Romikanta also attended the ceremony. 

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