About 40 factories had been approved for commercial operations in Thilawa Special Economic Zone (SEZ) (U Set Aung, Chair of Thilawa Special Economic Zone Management Committee)

Some 40 factories can carry out commercial operations in Thilawa Special Economic Zone, said Set Aung, chair of the Thilawa Special Economic Zone Management Committee.

“No country in the world can conduct impact analysis on exports in two years,” he said, explaining the slow pace. “We will have to take another two years to carry out impact analysis.”

The zone’s export figures would soon be released on their website, he added.

The Thilawa SEZ project was initiated about two years ago. Building a factory takes at least one year, often 18 months, and an environmental impact assessment must be completed, Set Aung said.

Myanmar’s total foreign investments up to the 2017-2018 FY, including investment promotion in the Thilawa SEZ project, have reached over US$291.9 million (391 billion kyat), with Japan topping the list of foreign investors, according to the Directorate of Investment and Company Administration.

As of January 19 of the 2017-2018 FY, the zone received three investments from Japan, two from Singapore, two from Thailand and one each from South Korea and the Netherlands. The FDI covers eight industries and one goods trading company.

Construction of the first phase (totalling 101 hectares) of the Thilawa SEZ project Zone-B was launched on February 24, 2017 and is expected to be complete in mid-2018.

(Eleven Media Group: http://www.elevenmyanmar.com/business/13518 )

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