A South Korean company has proposed an investment plan for the urban development of Rakhine state’s capital Sittwe, said U Hla Thein, chair of the public relations subcommittee of the state government.
Property firm BXT Construction and Development has proposed a plan to develop the urban area, which will include residential spaces, a supermarket, a park and a playground on the bank of Sett Yoe Kya stream, an area of central Sittwe.
“A delegate from the company discussed the plan with state officials and local citizens in early January. The project needs approval the Rakhine state government and the local community before it can be implemented.” said U Hla Thein.
This is the first time under the term of the new state chief minister U Maung Maung Ohn that a foreign firm has proposed investment in Sittwe region’s development.
Firms from Taiwan have proposed investment in the industrial zone project in Pone Nar Kyun township and other projects in other parts of Rakhine state.