The Rakhine National Development Party, or RNDP, has plans to set up a company with the aim of fundraising for party activities and social affairs, said party chairman Dr. Aye Maung.

"We are now preparing to set up a business company for our party funds. We will set up the company by the name of "Thiri Waisa", but the process is now underway," he said.

RNDP won 35 seats in the recent election in Arakan State, but the party is facing a financial crisis that is limiting its ability to carry out party activities.

"The party central committee already set up a business company in the last meeting in order to overcome the financial crisis. We are going to work in at least six business sectors such as construction, tourism, fishery, and timber. The company is to be based in Arakan State will work as state whole company," Dr. Aye said.

Some well-known businessmen in the party will lead the company and they are now looking for partners to invest in shares in the company.

"We are now also discussing with some lawyers to set up the business. We hope we can register the company early next year. Afterward, we will implement our business," he added.

The party will use 25 percent of the profits from the company to fund party activities, provide education to poor students, and provide relief aid in natural disasters.