Rakhine State Government invited local and foreign companies to submit an Expression of Interest (EOI) for Sittwe development projects in Rakhine State

Rakhine State’s Minister of Planning and Finance has invited local and foreign companies to submit an Expression of Interest (EOI) for a development project on 13.6 acres of state-owned land in Sittwe, the capital of Rakhine State, Myanmar.

The project will include shops, residential housings, a business center, and ports. This opportunity is open to all investors, local or foreign and enen joint-venture companies, according to Dr. Htoo Min Thein, Director of Directorate of Investment and Company Administration (Rakhine State).

The Rakhine State Government and BXT International Company have completed land preparation for the project, and are ready to move forward with investors.

“We invite everyone to submit EOIs, whether they want to invest for a 20 or 50 year period,”he added.

The interested investors can get EOI forms at Rakhine State government’s office starting on August 5 and must submit EOIs by September 5.

Rakhine State, which receives a relatively low investment amount (or receives relatively low investment amounts), has received K77 billion and $5 million investment commitments from both local and foreign investors at the Rakhine State Investment Forum held in February, according to the Myanmar Investment Commission.

Rakhine State is categorized as an underdeveloped zone by the Myanmar Investment Commission, and offers up to seven years tax exemptions.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/rakhine-state-invites-eoi-sittwe-development-projects )

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