According to the findings of investment opportunity survey conducted in Rakhine State, fisheries & livestock breeding sector has the most opportunities to invest, followed by agriculture, manufacturing, hotels & tourism, forestry, oil & gas exploration, etc.
Rakhine State economy mainly consists of agriculture (overwhelmingly rice, coconut, and nipa palm), fisheries, and forestry (timber and bamboo).
As well, it possesses tourism potentials in such places as Mrauk U, the ancient city of Rakhine Dynasty, idyllic Ngapali Beach and untapped beaches in Gwa Township and Man Aung Island.
“Regarding a better development of the State, the every level of the State authorities are highly expected to keep in touch with business circles, in order to facilitate the businesses and to stipulate rules and regulations for the benefits of businesses,” said a young businessman U Kyaw Htay Win.
Under the business name Press Seafood Center, his primary business is seafood processing.
There is also potential for oil and gas. Construction of deep-sea port and Special Economic Zone is also planned in Kyaukpyu, and rail and highways have been proposed to link them to Mandalay and, again, to Yunnan Province, making the State a strategically important location for further investment.
Kaladan Multimodal Transport Project is also underway in Sittwe.
These are the major topics and issues that the participants of the Rakhine State Investment Fair have explored, which took place on February 22.
Very importantly to move the State forward, the electric supply most commonly used in Myanmar is 220V. The electric plugs and sockets are designed for two pins (round and/or flat) plugs, however UK sockets are common in hotels.
That’s why, all the attendees are recommended to carry Converters / Transformer and adaptors.
The Rakhine Yoma (Mountains) rising to 3,063 meters (10,049 ft) at Victoria Peak, separate Rakhine State from central Myanmar. Rakhine State has an area of 36,762 square kilometers (14,194 square mile).
There are total of 17 townships and 1,164 village tracts. Sittwe is the capital of Rakhine State. According to Myanmar Population Census 2014, Rakhine State has total population of 3,188,807