Home Insider Insider News Thilawa SEZ Envisages 60 Companies in Operation When Year Ends

Thilawa SEZ Envisages 60 Companies in Operation When Year Ends

The number of business firms operating in Thilawa Special Economic Zone (Thilawa SEZ) is expected to reach 70 at the end of this year, doubling from the current 35, according to Win Aung, Chairman of Myanmar Thilawa SEZ Holdings Public Limited.

A total of 35 firms have started operating in Zone A of Thilawa SEZ. 35 more companies are expected to be in operation at the end of the year, according to Win Aung.

“There are currently 87 companies in Zone A, 35 out of which are already in operation. The remaining firms are under construction. The total investment volume is estimated to be $1.07 billion,” said Dr Shwe Hein, Secretary of Thilawa SEZ Management Committee.

At present, there are 87 international companies that have entered into agreement to do business in Thilawa SEZ.

The commencement ceremony of Zone B of Thilawa SEZ was held in February 2017. The construction of Zone B was launched consequently to the success of Zone A which attracted much interest from investors. Zone B is expected to complete in mid-2018.

Businesses in Thilawa SEZ include manufacturing of garments, construction materials, cement, foodstuff, chemical fertilizers, agricultural equipment, vehicle spare parts, drugs and medical instruments, and vehicle installation. Located approximately twenty-five kilometers south of Yangon between Thanlyin and Kyauktan townships, Thilawa SEZ is the country’s first economic zone, covering an area of approximately 2400 hectares.

Myanmar government and Japanese government have agreed to jointly develop the special economic zone.