Thilawa Special Economic Zone will attract more potential investments as it was implemented systematically, said Thaung Tun, Union Minister for Investment and Foreign Economic Relations on February 5.
The one stop service center (OSSC) in the zone is providing quality services and help gain trust from the investors, said the Union Minister.
Moreover, they will implement the single window system to ease business and the respective ministries are drawing up standard rules and regulations, he said.
He continued that the success of the economic zone, which was established in 2011, is viewed as “ideal”.
Win Aung, Chair of Myanmar Thilawa SEZ Holdings Public Limited (MTSH), said they are developing phase 3 of the Zone B to the upcoming mass foreign investments in the zone.
“We are implementing Zone B for the possible investments as about 97 per cent of Zone A is filled up. We planned for 700 hectares of land space for the Zone B. We are implementing the first phase of Zone B and will continue to implement second and third phase,” said Win Aung, the Chair of the MTSH.
A total of 12 foreign investors from six countries are made investments worth US$140 million in the zone in this year. At the present, the number of investors in the zone is reached to 94 and the investment is US$1.19 billion.
A total of 97 per cent in Zone A and 61 per cent of Zone B are already sold, according to an annual report of the MTSH for 2017-18 FY.
The zone is implemented by Myanmar and Japan companies by establishing a joint-ventured company in Thilawa area in Kyauktan Township, Yangon Region.
