Thilawa SEZ project in Zone B has sold out 26 per cent shares and investors from many countries are interested to invest in Thilawa SEZ

The total foreign investment in Thilawa Special Economic Zone Project has exceeded US$1.1 billion (1.363 trillion kyat), said Myint Zaw, officer and general manager of Myanmar Japan Thilawa Development Ltd. 

“We have sold out 26 per cent of Thilawa SEZ (Zone-B). The construction of Zone-A is 96 per cent completed,” he added.

Currently, 17 countries have invested in Zone-B with Japan topping the list of investors. Many countries have offered to inject their investments into Thilawa SEZ project. Some investors want to invest in labour-intensive and import-substituting industries. 

From 2014-2015 until July of 2017-2018 fiscal year, the total investments in Thilawa SEZ project amounted to nearly $1.148 billion, according to the Directorate of Investment and Company Administration. 

Investments in the Myanmar industrial sector amounted to $842.965 million, accounting for more than 73 per cent of the total investments. The goods trading sector reached over $101 million, the service sector over $81 million, the transport and logistics sector over $77 million, the real-estate development sector, over $30 million and the hotel sector more than $12 million. 

The FDI in Thilawa SEZ project is expected to reach up to $1.7 billion with investments coming from around 150 foreign companies, said Aung Htoo, deputy minister for commerce. 

Exports from Zone-A would reach about $600 million yearly, accounting for five per cent of the total foreign export volume. 

Thilawa SEZ project has a total area of 2,400 hectares. Zone-A has an area of 400 hectares and Zone-B, 101 hectors.

(Eleven Media Group: http://www.elevenmyanmar.com/business/11879 )

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