The Myanmar Investment Commission announced the decision to designate a new economic zone within the Kokang self-administrative zone, Shan State, on 17th October.
In an official notification the commission said that on October 3 it had taken the decision to identify just over 1000 acres (four square kilometeres) for development. The land is located near Htin Par Kyaing village, Laukkaing Township.
K142 billion (US$ 142 million) has been allocated for the development of the site,which will be carried out by the Kokang self-administrative zone authorities and Kokant Mar Li Per Development Co., said U Thant Sin Kyaing, a director of the Directorate of Investment and Company Administration.
“They have cleared the land and are working on the electricity infrastructure now,” said U Thant Sin Kyaing.
“The developer will be able to rent or sell the land.”
