Thilawa SEZ needs to effectively maintain existing investments and try various ways to invite new investments said Vice-Senior General Soe Win.
The Central Committee on Myanmar Special Economic Zones held the coordination meeting 1/2024 at the Ministry of Commerce in Nay Pyi Taw yesterday, with an address by Chairman of the Central Committee, Vice-Chairman of the State Administration Council Deputy Prime Minister Vice-Senior General Soe Win.
Speaking on the occasion, the Vice-Senior General said that Thilawa SEZ needs to effectively maintain existing and new investments and try various ways to invite new investments. The one-stop service system must be implemented for all businesses from the SEZ. Thilawa SEZ is the most successful among the three SEZs in Myanmar. All committee members need to strive for the emergence of more SEZs in the country, he added.
The Vice-Senior General urged all to make efforts for the soonest implementation of Kyaukpyu and Dawei SEZs. It is necessary to invite more investments. But only when businesses in the SEZ succeed will more investments come in, depending on their success.
He highlighted that Thilawa SEZ has invested US$2.1 billion from 114 companies in 21 countries till November 2013. In the first year, these companies created an estimated 37,000 jobs for local labourers and 887 foreign experts and employees. Depending on increasing investments, experts and labourers will have more employment.
The Vice-Senior General noted that Thilawa SEZ exported garments, Solomon fish, refined metal products, plastic goods, auto parts, imported parts of tractors, raw materials, garment accessories, aluminium materials, and auto parts in November. Importing MSME materials and domestic products contributed to more than K1.3 billion in exports. Hence, it is necessary to boost the export volume of quality products from MSME businesses using domestic raw materials and other products to earn foreign currencies.
In November, he recounted that export volume was US$12.95 million and import volume worth US$42.567 million, totalling US$55.517 million with different export and import values. The companies from the promotion zone can conduct their process under the Myanmar Special Economic Zones Law 2014; he said they have to minimize spending on foreign exchange at home as much as possible.
He stressed that if Thilawa SEZ is facilitated electricity from solar power and a solar plant, the electricity for the SEZ can be supplied to other necessary areas. So, it is necessary to strive to generate electricity in Thilawa SEZ.
The Vice-Senior General underscored that the management committee of Kyaukpyu SEZ was reconstituted in 2021. On 26 December 2023, the Addendum to Concession Agreement on the Kyaukpyu Deep Seaport Project was signed. After signing the addendum, as the 18-month period was extended for the project from 26 December, if the condition precedents can be implemented as quickly as possible, the Kyaukpyu SEZ project can be successfully implemented.
Regarding the Dawei SEZ Project, the Vice-Senior General continued that, at present, the Italian-Thai Company cannot carry on with its process due to various reasons facing many issues. Due to political changes in Thailand, it was reported that the Dawei SEZ will be connected with the Thai government. So, Myanmar needs to cooperate with them if necessary. As a policy of the current Thai government, the special economic zone is being established in the eastern province of Thailand as the eastern economic corridor, and it may be connected with Dawei SEZ.
Officials from the Central Committee and Union ministers and management committee chairmen reported on measures being taken to implement the Myanmar SEZs successfully.
The meeting concluded with the remarks of the Vice-Senior General. — MNA/TTA
