The still under-construction Maungdaw Kanyinchaung economic zone in Rakhine State will be upgraded with additional projects and the state government is planning to build a new industrial zone in Ponnagyun, said the State Chief Minister Nyi Pu.

Despite worries from investors about the present situation in the state, the Chief Minister claimed that they shouldn’t.

“The conflicts occurred in the inner areas of Rakhine State. Investors can make their investments in Mrauk-U, Kyauktaw and Minbya. In Maungdaw, we are developing Kanyinchaung economic zone,” he said.

The Kanyinchaung economic zone is located about three miles away from Maungdaw and is invested in via the cooperation of the state government and Nat Myit Ahlin Co. Ltd. The total investment is Ks 2.2 billion with Ks1.5 billion from the state government and Ks0.7 billion from private sector, according to an announcement from President’s Office.

It was implemented in October 2015.

The first phase of the project was implemented on 49.6 acres space of land and another 100 acres space of land is prepared for future upgrades.

The zone is about 15 minutes away from Bangladesh by ship and it will be a trade zone especially intended for export sector. Among the border trade zones, 90 per cent of Maungdaw border trade is occupied by export sector. The rest is occupied by import sector and the zone is only using US dollar for trade.

In the zone, cold storage rooms to store meat and fishery products, garment factories, office rooms and buildings where guests can stay will be built. The entire zone will be built on 152.94 acres space of land.