Zone-B of Thilawa SEZ project in high demand

Writer: 
Nilar

 

There are high demands for spaces at Zone-B of Thilawa Special Economic Zone Project as Zone-A had ran out. Investors are expanding their businesses, said Dr Than Myint, Union Minister for Commerce and Chairperson of Myanmar Special Economic Zone Central Working Committee.

Cho Cho Win, Vice-Chair-2 of the Thilawa Special Economic Zone Management Committee said: “Now works in the Zone-B have started. At the same time, seven companies have got permits. The Phase-I covers 101 hectares. The 57 per cent of 101 hectares (250 acres) have been rent out.”

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.

Most of investments in the Thilawa SEZ project are manufacturing industries, according to Thilawa Special Economic Zone Management Committee.

“There are 70 investments in the industry sector, one in logistics sector, nine in trading sector, four in service sector, one in real estate sector and one in hotel sector, Cho Cho Win added.

Until April this year, the total investments in Thilawa SEZ project by 17 countries have reached over US$ 1.373 billion.

Singapore have topped the list of foreign investors with US$ 503.71 million, followed by Japan with US$ 425.54 million, Thailand with US$ 151.80 million, South Korea with US$ 54.60 million, Hong Kong with US$ 47.15 million, Myanmar with US$ 54.70 million, British Virgin Islands with over US$ 20 million, UAE with US$ 19.16 million, Taiwan with over 16 million, Austria with US$ 15.35 million, Panama with US$ 13.91 million, China with over US$ 12 million, Malaysia with over US$ 15 million, Brunei with over US$ eight million, Australia with over US$ seven million, Vietnam with over US$ seven million and the Netherlands with over US$ one million.