Irrawaddy-Sept 1

The Chinese developer of a shady “new city” project on the Myanmar-Thai border—a company with links to illicit cryptocurrency and casino operations—has insisted the project is part of China’s Belt and Road Initiative (BRI), despite an assertion to the contrary by the Chinese Embassy in Myanmar. The project in Karen State, known locally as the Shwe Kokko New City after the village where it is located, was launched in 2017 by Yatai International Holdings Group (YIHG) after the firm signed an agreement with a local ethnic Karen armed group, the Border Guard Force (BGF). The project has drawn criticism from locals over what they see as a lack of transparency, as well as confusion over the scale of construction and a growing influx of Chinese migrants. In addition, suspicions have been aroused over possible illicit activity and concerns about the social impacts of casino businesses.

Read more at: https://www.irrawaddy.com/news/burma/new-city-thai-myanmar-border-part-bri-despite-chinas-denials-developer-claims.html