Serge Pun, the Myanmar tycoon, is championing a new, Chinese-built $1.5bn industrial zone for Yangon, despite flagging investor sentiment caused by the Rohingya crisis and growing wariness in Asia about big projects backed by Beijing.
Mr Pun said that China Communications Construction Company (CCCC), the state-owned builder behind a controversial port project in Sri Lanka, would by year-end have lined up paperwork — including a financing plan — for the scheme, which he described as Myanmar’s answer to Shenzhen.
“Within the next 60 days, the first investment will be in place,” said Mr Pun, who chairs two Myanmar-focused, Singapore-listed companies: Yoma Strategic Holdings and Memories Group.
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