KITSAPA-Kanyinchuang Economic Development (KED) Company, together with the Rakhine State Government Committee, is now implementing Kanyinchaung economic zone in Maungdaw Township, Rakhine State, by spending over Ks 1.5 billion, according to the sources.

The investment is Ks 1 billion from the Rakhine State Government Committee and Ks 540 million from the KED Company in 2019-20 fiscal years.

Currently,  a jetty where six vessels can dock there at the same time is being built in the Kanyinchaung economic zone and 70% of construction tasks are completed yet.

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

Two concrete jetties, a 420-ft long earth approach road, a single storey reinforced concrete warehouse and 2 sales rooms have already been completed so far.

Kanyinchaung Economic Zone is about 2 miles northwest of Maungtaw Town where Kanyin creek flows into Naf River. A port in Bangladesh is only about 4 miles away. The jetty of Kanyinchaung Economic Zone can handle vessels of about 3000 tons.

It started in the 2015-16 fiscal year as a trade zone during the ex-government time, about 50 acres was earmarked for it and it is currently being expended to an economic zone on 100 acres.

The Kanyinchaung Economic Zone will have cold storage facilities to store meat, fish and prawns, garment factories, trading offices, restaurants and rest houses.