Investment in Thilawa Special Economic Zone (SEZ) increases by 50 per cent

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Construction is under way at the Thilawa Special Economic Zone, outskirts of Yangon. Photo: Phoe Htaung
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Daw Cho Cho Win, Vice Chairperson-2 of Thilawa SEZ management committee.

Leasing of land from International investments in the Thilawa Special Economic Zone (SEZ) phase B will increase by up to 50 per cent, according to officials from the management committee of Thilawa SEZ. There are some 101 hectares (250 acres) of leasing land for Part B of the first phase, which aims to be completed in August. It is hoped that Part B of the second phase, which is about 66 hectares, will be completed in August 2019. Currently, for Part B of first phase, some 100 hectares are underway. Investment permissions are being granted to those who want to make an investment in Zone B, while there are some companies which are under negotiation, it was learnt.
There are some 700 hectares for Part B, which will be implemented; the first stage of 101 hectares was started in February 2017, and it will be completed in August 2018.
The second stage of 66.4 hectares will resume in December 2018, and it is expected to be completed in August 2019, according to the management committee of Thilawa SEZ.
Joint Secretary of Thilawa SEZ management committee Dr. Than Than Thwe said, “Regarding the Part B of phase A, the process of leasing land for 101 hectares (250 acres) have been invested by many companies from Japan, South Korea, Singapore and Thailand.
Up to now, 49 per cent of leasing the land from 101 hectares for Part B of phase B had been begun from Japan, South Korea, Singapore and Thailand.
The main thing is that they will produce materials which are in need of foodstuff and other things. The investment of these six companies amounted up to US$75.19 million, and another three companies are still waiting for investment permission. For them, the process of leasing the land had already begun.

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Dr. Than Than Thwe, Joint-secretary of the Thilawa SEZ management committee.

For the first stage of phase B, the implementation process of 50 per cent had been completed and houses were built for the people who resided in Myaing Thayar Ward (3).
The residents had been transferred to new houses which are 40 feet long and 50 feet wide in Myaing Thayar Ward (3). In accordance with the JICA’s guidelines, the amount of compensation has been made and some 90 houses have been relocated. Moreover, I want to inform you that all these residents are able to make their living for the time being now.”
As for the government, plans are underway to carry out the implementation of Thilawa SEZ up to 2,400 hectares, and the opening ceremony of 405 hectares for the first stage of phase A was held on 23 September 2015.
Vice Chairperson (2) Daw Cho Cho Win said, “For the success of Zone A (Part one), the investment increased US$1.2 billion, including 96 per cent of leasing land. The remaining 4 per cent will begin soon. Many giant companies from 16 countries have come to invest in Thilawa SEZ.
Permits had been granted for some 90 enterprises to make investments here, and some 40 enterprises are being operated so far. Among them, four factories are exporting their products to China and other ASEAN countries, according to the agreement of the Free Trade Area (FTA), like our country.

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Workers are seen at the site of the Thilawa Special Economic Zone project, Yangon. Photo: Phoe Htaung

Concerted efforts are being made to implement the development of the social life of the people and plans are underway to carry out up to 2,400 hectares, including 405 hectares for Part one (Zone A), 101 hectares for Part 2 (Zone B) and 66.4 hectares for Part two.

 

Ye Khaung Nyunt

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