AA desires to work with investors in Arakan State

22 Jul 2019

Nay Yaung Min | DMG

22 July, Sittwe

The United League of Arakan/ Arakan Army (ULA/AA) on 18 July announced that it desired joint business ventures with all countries and organizations who want to invest in Arakan State.

The announcement said that the AA has welcomed transparent investments to benefit from the Arakan region and they have a positive and enthusiastic attitude over China’s One Belt & One Road (OBOR) project, deep sea port project and Kyauk Phyu SEZ project.

“We’d like it known to the public that the AA will not bother any companies and businesses if they do not hurt the interest of our people in the region,” the AA’s spokesperson Khaing Thukha said.

The AA said that it has been ready to cooperate with those who want to invest zealously in various ventures in Arakan State such as health care services, education, economics, transportation, agriculture, animal husbandry, socially related businesses and multi-development projects.

The Malaysian based Gold Coast KTMG Development Co.,Ltd has currently proposed a new town plan named  Sittwe Myanmar City 2030 in Kyay Daw and Shwe Min Gan villages located opposite the regional capital, Sittwe, which is close to the townships where armed struggles are occurring.

The project is to be developed on over 7000 acres of land will cost USD 38 billion and it will include a deep sea port, oil storage tanks, an industrial zone and public park, the company said.

Moreover, a delegation of the joint company of Singapore and China met with the Arakan State government in the second week of July and discussed a project to invest in USD 1.6 billion in Arakan State.