The Arakan State government hopes to open the Kanyin Chaung economic zone, developed in Maungdaw Township, by the end of 2019, Arakan State Municipal Affairs minister said.
The regional government has built the economic zone on land over 200 acres wide in collaboration with KED Company, and the project costs MMK 220 million.
“The regional government controls 65 percent of the project while the KED Company controls 35 percent,” said U Win Myint, Arakan State government’s spokesperson and Municipal Affairs minister.
The project aims to develop border trading in Maugndaw region and to create a seller’s market for Bangladesh.
The economic zone is comprised of nine projects, six of them have been accomplished, the regional government said.