Myanmar Japan Thilawa Development Ltd planned to add 200 hectares in its economic zone

Myanmar Japan Thilawa Development Ltd. said it plans to add 200 hectares, to its economic zone.

The Thilawa Special Economic Zone (SEZ) is considered the most successful economic zone in Myanmar, and the additional real estate will be added to the south of the existing Thilawa Special Economic Zone.

“We are planning to add an addition 200 hectors just south of the existing zones. To do so, we are trying to complete the construction process of Zone B,” said Mr. Tomoyasu SHIMIZU, President of the company.

Zone A covers an area of 405 hectares, and the company said they have already sold 99 percent of the lots there. Zone B takes up about 262 hectors in total, and the developer said that 50 percent of the lots are sold.

Thilawa’s SEZ developer hopes to sell the all of the available lots in Zone A and B by 2021, according to its Midterm Business Plan.

Toyota recently acquired 21 hectares of land in the Zone B to assemble and produce automobiles in Myanmar.

Myanmar’s desire to establish a special economic zones dates back to 1990, but only recently managed to approve the Special Economic Zone Law in 2014. It then planned to build the Thilawa Special Economic Zone, Dawei Special Economic Zone, and Kyaukphyu Economic Zone. However, only the Thilawa Special Economic Zone is currently operating now and the other zones are still under the construction.

 (Myanmar Business Today: https://www.mmbiztoday.com/articles/thilawa-sez-add-200-hectares )

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