(VOVworld) – On Tuesday, Myanmar’s Union Parliament approved the land demarcation for the Kyaukphyu Special Economic Zone (SEZ) in western Rakhine state.

A meeting of Myanmar’s Union Parliament. (Photo: Xinhua)

The SEZ will be set up on 1,700 hectares of land in Kyaukphyu, Yanpye, and Manaung towns under a regional development plan. In its initial phase, the project will have three components, including the construction of a deep sea port, an industrial park, and a residential area. Kyaukphyu will be developed into an industrial area while Yanpye township will be dedicated to agriculture and Manaung township to eco-tourism. Work on the SEZ will be launched in February, 2016, on an initial area of 100 hectares for developing the industrial park. The overall project will take 20 to 30 years.