1,000 acres in Kokang specified as SEZ
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The Myanmar Investment Commission (MIC) has set aside more than 1,000 acres in the Kokang self-administered area on the Myanmar-China border for a special economic zone under the foreign investment law on October 3, sources from the commission said.
The foreign investment law prohibits or restricts foreign investments in an area within 10 miles from border areas except a special economic zone allowed by the union government. However, the MIC can grant permission to make investments in the prohibited or restricted area in the interest of the state and citizens, especially the ethnic population, by asking permission from the union government, the law states.
The MIC has allowed Kokant Mar Li Par Development Company to implement a special economic zone in the Kokang self-administered area on August 15 based on remarks and consent from respective government organisations and departments.
The SEZ will be implemented by a joint-venture between Kokang self-administered government and Kokant Mar Li Par Development Company in Laukkaing district to clear land plots, sell and hire land.
Kokant Mar Li Par Development Company is registered with the MIC since January 2013 and is based in Laukkaing. The Kokang self-administered area is located in Northern Shan state, bordering with China.
