Investment in Thilawa SEZ reaches $760m: report

THILAWA Special Economic Zone on Yangon’s southeastern outskirts has attracted US$760 million (about K895 billion) in investment since plots went on sale there in March 2014, the Nikkei Asian Review reported on July 14.

The amount was equal to 30 percent of the investment by foreign manufacturers in Myanmar, but outside its three SEZs, in the 2014-2015 financial year, it said.

Thilawa SEZ was expected to attract $1 billion in investment by fiscal 2020, NAR said.

It said 73 companies from 16 countries and territories had established operations in the SEZ. Most of the companies were involved in manufacturing and about half of them were Japanese.

About 80 percent of the plots in the 400 hectare first phase of the SEZ had been sold and work on developing the rest of the 2,400-ha industrial park may begin this year, the report said.

The SEZ is being developed by a consortium led by the Japanese trading houses, Sumitomo Corp, Mitsubishi Corp and Marubeni, that includes the Japanese International Cooperation Agency, the Myanmar government and local businesses.

The first phase of the SEZ, that is expected to eventually create 40,000 jobs, was formally opened in September last year.

The other SEZs being developed in Myanmar are at Dawei in Tanintharyi Region and Kyaukphyu in Rakhine State.

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