Maungdaw will build economic zone

Thar Shwe Oo
Kanyinchaung economic zone project being seen in Maungdaw Township in November last year (Photo-Thar Shwe Oo)
KITSAPA- Although there have been ARSA Bengali extremist attacks in Maungdaw Township, Rakhine State, government will sign a MoU with Maungdaw based companies by the end of September for implementation of  economic zone near Kanyinchaung village in Maungdaw Township, Rakhine State.
The information came from Kyaw Aye Thein, Finance, Revenue, Planning and Commerce Minister of Rakhine State Government Committee.
The economic zone will be established at the deep seaport near Kanyinchaung village, about 2-mile distance from Maungdaw Township.
“ We are now planning to build 100-acre wide Maungdaw economic zone near Kanyinchaung village. We already formed local consortium based in Maungdaw Township participation of Yangon based firms aiming for implementation of economic zone together with the government. Upon completion of the zone, trade between Myanmar and Bangladesh will be boosting. Secondly, the zone will create more job opportunities for local ethnics and bring peace and tranquility in the region. We plan to sign MoU with company by the end of September. That’s why government will be carrying out the investment and operation sectors joining hand with the company,” said Kyaw Aye Thein.
He continued that the ex-government constructed the buildings and jetties worth of Ks 1 billion were constructed in the zone at the previous government. Now, the incumbent government strives to get water and electricity, to construct the roads as well as to build fences. These programs will be implemented after singing MoU.
Currently, locals are fleeing to safer places due to Bengali terrorist attacks so also border trade between Myanmar and Bangladesh already suspended.
“ The trade already postponed. The merchants can’t trade in their products in accordance with the security and terrorist attacks. However, peace and security have been restored in Maungdaw region and then government has undertaken to reinforce its military presence at the border area. So, Maungdaw will be stable situation and trade will resume near soon,” said Kyaw Aye Thein.
Over 300 0r 400 tons of vessels can  dock at the Kanyinchaung jetty.
The construction of Kanyinchaung trade zone situated in Maungdaw border area was started since November 1st of 2015, says Aung Myint Thein, Chairman of Maungdaw Traders Association.
With the aim to carry out border trade between Myanmar and Bangladesh, both sides had signed MoU on May 18th of 1994 and launched bilateral trade on September 5th of 1995.