World Bank tries to start project in Arakan State

24 Nov 2019

Wuntha (Maungdaw) | DMG
November 24, Maungdaw

The World Bank is trying to initiate a project which can connect the local market with international markets in Arakan State, including providing financial assistance for small businesses and vocational training, officials from the World Bank said.

The comments were made during the meeting between a World Bank team led by Gevorg Sargsyan, Acting Country Director for Myanmar, and the Maungdaw Traders Association on November 21.

“The World Bank is trying to start a project for Arakan State. We are planning to provide vocational training and financial assistance for small businesses and to link local markets with the international markets,” officials from the World Bank said.

The World Bank has been discussing with the State government and CSOs to draft a strategy development plan for Arakan State in 2020-2023.

U Aung Myint Thein, Chairperson of Maungdaw Border Traders Association, said that Arakan State’s business market depended on Maungdaw border market, and having a market was important for the development of Arakan State.

“Our market is just around Maungdaw region. Bangladesh is our market. Chilies are grown in Ponnagyun, eggplant is grown in Mrauk-U and jungle bean is grown in Kyauktaw. So where is our market? Our market is in Maungdaw,” he said.

During the meeting, the World Bank team asked about the current economic situation in Maungdaw and the trading situation with Bangladesh.

U Aung Mying Thein said that business has decreased in Maungdaw after 2017 terrorism attack but it has been building back gradually.

Kanyin Chaung economic zone is being started in Maungdaw Township for the development of Maungdaw border trading businesses and to create the export market in Bangladesh.

Minister U Win Myint, spokesperson of Arakan State government, said in July that they were planning to open the economic zone at the end of this year because six out of nine businesses which will be included in the zone were already set up.

Kanyin Chaung economic zone is being developed across 100 acres of land by the State government and Kanyin Chaung Economic Development Company (KED). The monetary value of the project is Kyat 220,000,000.