Rakhine State’s national planning and economic development minister, U Maung San Shwe, said companies were researching the possibility of investing in the region and observed the state of construction and electricity in the area.
Without investors, however, the SEZ zone won’t develop. “We need funds, human resources and real estate to operate SEZ projects,” U Maung San Shwe said, adding current levels were “inadequate”.
The government called for international tenders to develop the SEZ in southern Kyut Phyu on September 8, saying the 1000-acre site would operate with an initial investment of US$277 million in 2014.
Many investors, however, have been put off by ongoing conflict between Buddhists and Muslims in Rakhine State. U Maung San Shwe said the regional government will help those who want to invest directly in the SEZ and industry zones projects in southern Kyut Phyu.
“[The government] will protect completely their [investors’] security and won’t allow further conflict,” the minister said.
U Maung San Shwe also added that the regional government has been planning to form a committee at the regional or national level for reducing conflict, preventing illegal migration and boosting regional development.
U Aung Mra Kyaw, an MP in Rakhine’s regional parliament, said the issue of how to power SEZ projects has been proposed to parliament and plans are in place to extend supplies with master power lines from Kyut Phyu and Tha Htay Zay before 2015, with tower lines already being built. Some projects will also be powered by natural gas.
He added that both officials and investors need to think about a “master plan” to get the SEZ operational and prevent future conflict in the area.
source: The Myanmar Times
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