"Projects related to China’s One Belt, One Road initiative remain a focus, with the Kyaukphyu special economic zone (SEZ), which comprises a deep-sea port, industrial park and housing, being a major pull of foreign direct investment (FDI) into the state. The industrial park will support businesses involved in aquaculture, livestock and garment industries while the deep-sea port and its facilities will connect Myanmar with a regional network of economies including China, India and Asean. Plans to develop the SEZ was first announced in September 2013 and a consortium led by Beijing-based CITIC Group Corporation Ltd that included Thailand’s Charoen Pokphand Group Co Ltd was awarded the project at the end of 2015. However, it was not until November last year that a framework agreement was signed between the Myanmar government and CITIC, which also saw the original price-tag of US$7.5 billion reduced to US$1.3 billion. Rakhine State chief minister U Nyi Pu said among the projects within the SEZ, Forging The Future Co Ltd and Myanmar Bright Prospect International Logistics Co Ltd have proposals to set up prawn farming, support a jetty project on Made island and build a five-star hotel on Ramree island..."