Home MMBIZ News Chin Industrial Zones to Go Live by FY’14; Set to Boost SMEs

Chin Industrial Zones to Go Live by FY’14; Set to Boost SMEs

Industrial zone development projects in Chin state’s Hakha and Tedim are expected to be completed by the current fiscal year that started in April, a minister said.

The projects are aimed at supporting the development of small and medium enterprises (SME) in Myanmar’s impoverished Chin state, U Ram Mann, Chin state minister for planning and economy, told Myanmar Business Today.

“The projects will prioritise businesses relating to automobile, and the electricity for these industrial zones will be supplied through the national grid in Hakha,” the minister said.

“Land negotiations are currently under way for the industrial zone project in Hakha, which will have an area of at least 25 acres,” U Kyin Hlyan Paung, Chin state minister for electricity and industry, said.

The projects will be initiated with small enterprises and required facilities will be developed in 2014-15 fiscal year, he added.

A 20-acre industrial zone project is also being developed in Tedim, which will become the first industrial zone in Chin state and is expected to create employment opportunities for the state’s citizens.

U Salai Kyam, secretary of Chin National Democratic Party, said: “Profit sharing is an important element when a special economic or industrial zone is being developed.

“The zones should be developed according to international standards while socio-economic standards should also be considered.”

- Advertisment -

Must Read

Myanmar Doing Well in Backing Country’s Economy During the Pandemic: State...

အောက်တွင် မြန်မာလို ဖတ်ရှုနိုင်ပါသည် Daw Aung San Suu Kyi, the State Counsellor of Myanmar, said in her address to the country on September 25 that the...