Union Minister for Commerce Dr. Than Myint said that an economic development zone will be created in Myitkyina.
The zone will be established in Myitkyina, the capital and largest city of Kachin state with agricultural and produce section given priority and value added goods will be produced, according to Dr. Than Myint.
He said so when meeting with officials from companies doing projects for establishing a new border trade post in Kan Pike Tee, where a border trade camp already exists to perform trade with China.
By developing Kan Pike Tee region, cooperation between trade and investment can be carried out between Myanmar and China borders. By doing so, it will create job opportunities for locals, enhancing their economy. As Kachin State is full of natural resources and abundant in virgin land, the minister said investment in finance and technology are invited.
The Myitkyina economic zone project will be implemented with Chinese investment on 4000 acres of land. It will develop over a period of 15 years. The first phase covers 1000 acres and will take 5 years.