Over 45 Japanese companies invest in Thilawa SEZ

Zeyar Nyein

Japanese firms have invested most in productivity sector in Thilawa Special Economic Zone and the number has reached over 45, according to the zone management committee.

"Most companies entering the zone are from Japan. There are about 45 or 47. They mostly invest in manufacturing sector," said Dr Shwe Hein, secretary of Thilawa SEZ Management Committee.

Businesses from 17 countries are investing in the zone and out of 89 factories approved, 39 are said to be running.

Till March in 2017-2018 fiscal year, a total investment of about US$400 million had come to Thilawa SEZ under the special economic zone law, according to Directorate of Investment and Company Administration.

The 101-hectare project, the first phase of Thilwa Zone-B, was launched in February last year. The project is expected to finish in the middle of this year. Some land plots have been hired by investors since late last year.

Upon completion of the Thilawa SEZ project in Yangon Region, it is expected that about 150 foreign companies will be investing about US$1.7 billion, according to the Ministry of Commerce.