Thilawa SEZ attracts over $2 billion in foreign investment

Thilawa SEZ attracts over $2 billion in foreign investment
Photo shows part of the Thilawa Specail Economic Zone in Yangon.
Photo shows part of the Thilawa Specail Economic Zone in Yangon.
Published 1 April 2024

The Thilawa Special Economic Zone (SEZ) has attracted significant foreign investment, exceeding US$2.19 billion as of February 2024. This figure reflects cumulative investment since the zone's inception in fiscal year 1988-89.

According to Vice-Senior General Soe Win, Chair of Myanmar's Special Economic Zones Committee, 114 companies from 21 countries currently operate within Thilawa SEZ, representing a combined investment of $2.19 billion (data from Committee meeting 1/2023, October 12, 2023).

Vice-Senior General Soe Win emphasized Thilawa SEZ's success and positive reputation, urging continued collaboration between relevant ministries. This collaboration aims to streamline operations for existing investors, attract new businesses, and promote further investment.

The 667.275-hectare Thilawa SEZ is divided into zones catering to free trade, promotion, export businesses, and domestic import substitution. Notably, the zone contributed 3.6% to Myanmar's GDP in 2022-2023, accounting for 1% of national exports and 3% of private sector exports.

Vice-Senior General Soe Win also provided a snapshot of Thilawa SEZ's performance in the first four months (April-July) of the 2023-2024 fiscal year. Exports reached $54.945 million, while imports totaled $162.653 million, resulting in a total trade value of $217.598 million. Tax collection amounted to 22 billion Myanmar kyats during this period. He acknowledged the limited timeframe and called for increased efforts to boost trade and tax collection throughout the fiscal year.