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Myanmar parliament approves land demarcation for setting up SEZ in western state

Xinhua, December 29, 2015 Adjust font size:

Myanmar's Union Parliament on Tuesday approved demarcation of land for implementing Kyaukphyu Special Economic Zone (SEZ) in Western Rakhine state, parliament sources said.

The proposal for the Kyaukphyu SEZ establishment was presented by President U Thein Sein and the formal announcement of the establishment by the government is expected to follow soon after parliament's approval.

The planned Kyaukphyu SEZ is to be set up on a 1,737 hectares of land in Kyaukphyu, Yanpye and Manaung townships under the regional development plan.

The initial phase of the Kyaukphyu SEZ development project will have three components -- a deep sea port, an industrial park and an integrated residential area.

The master plan covers three townships, of which Kyaukphyu will be mainly set as zone for developing industry, while Yanpye township be agro-based development zone and Manaung township be eco-tourist development zone.

The Kyaukphyu SEZ project implementation is planned in February 2016 with an initial area of 100 hectares for developing an industrial park. The overall project will take 20 to 30 years.

Invitation of expression of interest process started in 2014.

President U Thein Sein has urged speeding up the tender process for Kyaukphyu SEZ during the present term of the government which is to expire on March 30. Endit