As part of China’s Belt and Road Initiative (BRI) in Kachin State, Myanmar plans to establish Myitkyina Economic Zone and Kanpiketi Border Development  Zone, according to the Myanmar Investment Commission. 

At a ceremony to explain the facts about the establishment of two zones in Myitkyina, Union Minister for Commerce Dr. Than Myint said Myanmar will set up the economic development zone in Myitkyina. The zone will cover the production of value-added products for agriculture and breeding sector and cargo transport. 

Myanmar borders with China. Trade between Myanmar and China is the highest. The development of Kanpiketi border area can help promote trade, cooperation and investments between both countries, resulting in more employment opportunities for locals and economic development. We invite capital investments and technology as Kachin is rich in natural resources and abundant with fellow and vacant lands, the Union Minister added.

Foreign companies which will implement the economic zones can do it in accordance with laws, bylaws and rules and regulations. The government will give full protection to them. Thanks to land resources, fair weather conditions and potential market in Kachin State, the economic zone will be set up in Myitkyina. 

The 4,751-acre land chosen for the construction of Myitkyina Economic Development Zone is located in Palana village-tract in Nankyin village-tract in Myitkyina Township. The project is estimated to cost Ks 372 billion (273.44 million US dollars). The project will be developed by Joint Venture Company (a Chinese company and Kachin State Economic Development Public Co., Ltd.)