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May 31, 2020

Efforts stepped up for Kanyinchaung Economic Zone in Maungtaw Tsp

Kanyinchaung Trade Zone situated in Maungtaw township, Rakhine Stateis being upgraded into Kanyinchaung Economic Zone, by extending more 100 acres from 49.6 acres of original area.
Kanyinchaung trade zone started to have been built in October 2015, and it was closely situated with Bangladesh which had a great demand for foodstuff. Out of all border trade zones in the country, it has 90 percent of exports and 10 percent of imports.
Maungtaw border trade was started in 1991. Until now, dollar alone was used in trading commodities there, it was learnt. As for tax, it was the type of LCCT (Low Cost Carrier Terminal), resulting in tidy benefits, according to Maungtaw Region Merchant Association. But volume of trade plunged down up to 60 percent, after the 2012 riot, it was learnt.
Presently, the State will implement the Kanyinchaung Economic Zone in cooperation with private sector. Now, Union Ministers and responsible persons led by UMFCCI general secretary made a survey on the ground for further arrangements.
Kanyinchaung Economic Zone Campus is targeted to be included factories including freezing and refrigerated storage in fisheries and sewing factories. Currently a cargo ship carrying construction commodities and rice bags on board under the programme of Red Cross Movement Group was found calling at the Kanyinchaung Port.
There is only one mile concrete road left to be built on the road from Kanyinchaung Economic Zone to Maungtaw. Upon completion of the road, commodities and goods can be transported more quickly by motor vehicles from the economic zone to Maungtaw. —Aung Kyaw Oo


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