Total FDI in Thilawa SEZ project hit nearly $ 150 m in three months

Writer: 
Zeyar Nyein

 

From April to July, this year, the total foreign investments in Thilawa Special Economic Zone have reached nearly US$ 150 million, according to the Myanmar Investment Commission’s press conference.

U Aung Naing Oo, Director-General of Directorate of Investment and Company Administration said: “From April 1 to date, the government has granted investment permits worth US$ 149.1 million.”

Upon completion, about 150 foreign companies are expected to invest US$ 1.7 billion in Thilawa SEZ project, according to the Commerce Ministry.

Currently, more than 17 countries have invested in the Thilawa SEZ project. A total of 89 factories have got the green-light. Of them, 39 factories have started their commercial operations.

Zone-A is 90 per cent complete. Investors have been granted investment permits for Zone-B as the infrastructures in Zone-B have not unfinished yet, said Dr Shwe Hein Secretary of the Thilawa SEZ Management Committee.

The first phase of Thilwa Zone-B (101-hectare) was launched on 24 February last year. The project is expected to finish in the middle of this year. Some land plots have been rent out to investors since late last year.

Thanks to transparent business pattern, the inflow of investments into the zone will increase gradually in the years to come, said Mr Tomoyasu Shimizu, President of Myanmar Japan Thilawa Development Ltd (MJTD).