Rakhine State Government called for more proposals on industrial zone project in Ponna Kyun

The Rakhine State Government has called for more proposals for an industrial zone project in Ponna Kyun. It started selling K10,000 proposal forms on December 18 and the deadline for submission is January 17.
The state government has received one proposal, from a local company, Pyaywachanthar, for a 1,800-acre industrial zone, whereas the state has allocated 1,963.74 acres on the east side of the Yangon-Sittwe road for the project.
Dr. Tun Min Thein, director general of the Rakhine State Investment Committee, said local and foreign companies are invited to submit proposals for the project, which includes infrastructure such as roads, a water distribution system and real estate.
The industrial zone will be home to small and medium-sized factories for textiles and garment, meats and fishery products and finished wood products. The state government said it is committed to provide tax incentives and land at reasonable prices to companies and institutions that invest in the industrial zone.
Under the Myanmar Investment Law, investing in the least developed states and regions, including Rakhine, entitles investors to years of tax exemption.
When the state government first invited tender application in 2015, Supreme Development Ltd. and Myanmar Kyauk Phyu Special Economic Zone Holding bid for the project. Myanmar Kyauk Phyu won the bidding and a MoU was signed in September 2015. The MoU was to be renewed every four months, but the company failed to renew it a fourth time, rendering the agreement invalid on April 12, 2017.

(Myanmar Business Today: https://mmbiztoday.com/rakhine-state-calls-for-more-proposals-on-planned-industrial-zone/ )

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