The Ministry of Commerce expects about 150 foreign companies to invest US$ 1.7 billion in Thilawa Special Economic Zone

The Ministry of Commerce expects about 150 foreign companies to invest US$1.7 billion in the Thilawa Special Economic Zone, located in southern Yangon Region, when it is completed.

Deputy Minister Aung Htoo predicted the export volume from Zone A of the Thilawa SEZ to reach $600 million, which would account for 5 per cent of Myanmar’s total export volume.

There are already 82 companies from 17 countries with investments in the SEZ. Some of these companies, particularly those in the garment, shoes, toys, spare car parts and electronics industries, have begun operations.

Most of the factories are import-substitute manufacturing ones and produce construction materials, foodstuffs, aluminum, fuel, farm machinery and implements, pharmaceuticals and fertilizers.

Japanese companies have invested $468 million in the Thilawa SEZ, accounting for 43.54 percent of the foreign investment volume as of the end of May 2017, followed by Thailand with $134 million.

There are 2,400 hectares in the whole implementation area of the Thilawa SEZ, and Zone A has 400 hectares. The construction of Zone A is 96 per cent complete. The construction of Zone B is set to begin soon. The first-phase development of 101 hectares in Zone B is expected to be completed in the middle of 2018.

Companies wishing to invest in the SEZ will be able to rent plots of land at the end of 2017. A foreign investment volume of $122 million  flowed into the Thilawa SEZ during the first two months of the 2017-2018 fiscal year, according to Directorate of Investment and Company Administration.

(Eleven Media Group: http://elevenmyanmar.com/business/10026 )

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