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Tuesday, January 22, 2019

Development to continue in Rakhine economic zones

                          Rakhine ethnic people in Kyauk Taw Township, northern Rakhine State. Photo - EPA

The Rakhine State government is moving ahead with economic development plans for the northern part of the state.

State official say the plans will involve the Kanyin Chaung Economic Zone, Pone Nar Kyun Industrial Zone and livestock and agriculture zones in northern Rakhine.

The state government says it hopes to have the Kanyin Chaung Economic Zone up and running by this March, said Rakhine State Minister of Finance, Revenue, Planning and Economy U Kyaw Aye Thein.

The Kanyin Chaung Economic Zone, located near Maung Daw Township, is expected to boost trade by sea routes due to its proximity with Bangladesh and India.

The state government has invested K2.5 billion (US$1.6 billion) to develop the zone which was first proposed in 2015. Being run as a public-private-partnership in a 65-35 split, the private sector has also injected K800 million into the project.

“The Kanyin Chaung Economic Zone is important for sea trade and is expected to boost economic ties with India and Bangladesh,” says Rakhine State Chief Minister U Nyi Pu.

Besides Kanyin Chaung, the state is also working on the Pone Nar Kyun Industrial Zone in Pone Nar Kyun Township, northern Rakhine. Work on the industrial zone, which had been started by the previous government, has been delayed, but will now be restarted.

“We will build the Pone Nar Kyun Industrial Zone under the National Project Bank of the Myanmar Sustainable Development Plan and we will invite investors to participate,” said U Kyaw Aye Thein.

“The important thing is that we need peace to develop business so the economic and industrial zones can create jobs for people. If there is no conflict, it can only be good for the economy and society in this region,” U Aung Myint Thein, the chair of Maung-Daw Border Trade Chamber of Commerce, said.

There are also plans for agriculture and livestock zones in Kyauktaw Township near the Kisapanadi River.

“We are planning agriculture and livestock zones in Kyauktaw and Mrauk U townships with participation from Thai investors,” said U Kyaw Aye Thein.

https://www.mmtimes.com/news/development-continue-rakhine-economic-zones.html

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