Thilawa SEZ plans to initiate Phase-3

Reported by EMG

From the 94 investors in Thilawa Special Economic Zone (SEZ),  there have been about US $ 1190 million invested and at present, implementation of projects for Zone B, Phase-3 are in the works, according to Myanmar Thilawa SEZ Holdings Public Limited (MTSH) chairman Win Aung.

“In 2017-2018, MTSH could attract 12 new investors from six countries, which invested US $140 million. From the 82 initial investors, we have US$1050 million.  Totaling, we have 94 investors and US $ 1190 million. Besides, we successfully sold 97 percent of industrial plots in Zone –A, 61 percent in Zone B-Phase-1. Currently, we are beginning the construction project of Zone-B, Phase-2. With the high expectation of speedy and abundant flow of Foreign Direct Investment (FDI) in the future, we are initiating the implementation of Zone-B, Phase-3,” said MTSH chairman Win Aung.

MTSH is the biggest source of income implemented by Myanmar-Japan Thilawa Company. Among the 300 hectares in Zone –A, 96 percent has been leased to 81 companies. In Zone-B, there were 83 hectares up for lease and 40 percent of land plots have been contracted to 8 companies. In Zone-B, Phase-2, there are 59 hectares of available land and it is currently being implemented. Besides earning revenue from land leases, it also earn charges for electricity, water and maintenance fees.

The Thilawa SEZ is located on 23 Km southeast of Yangon. It is the very first large-scale SEZ in Myanmar. The Zone, which are 2,400 hectares acres in total, is being developed in phases under Myanmar-Japan Thilawa Development Ltd.