89 firms from 17 countries invest in Thilawa SEZ

Writer: 
Nilar

Eighty nine companies from 17 countries are investing in Thilawa Special Economic Zone, and construction of Zone-B infrastructure will be completed this year, according to a Cost of Doing Business in Myanmar report.

Thilawa SEZ is located on 2,400 hectares of land,14 miles southeast of Yangon city.

So far, over US$1.374 billion has been invested Zone-A. Zone-B is under construction and Japan and Singapore are the largest investors, according to Thilawa SEZ Management Committee.

"Permits have been issued to 93 businesses with a total investment of US$1.374 billion at the zone. Those businesses are for both Zone-A and Zone-B. Seven are from Zone-B," said Cho Cho Win, vice chairperson (2) of the management committee.

She said Japan alone had 48 companies investing in the zone.

According to Directorate of Investment and Company Administration, over US$401 million came in investment to Thilawa SEZ in the previous 2017-2018 fiscal year, and Japan and Singapore accounted for over 60 percent. Eleven firms invested in industrial sector at the zone accounting for about 82 percent of the total investment last year.