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Myanmar: Thilawa SEZ zone B open to investors soon
Land plots in zone B of the Thilawa Special Economic Zone (SEZ) will be put on lease shortly because of high demand from investors, despite the issue of power outages in the area, according to Takashi Yanai, president of Myanmar-Japan Thilawa Development Limited (MJTD).
Mr Yanai said 95 percent of the land plots have been sold and construction work is ongoing in zone A, while the procedures to lease plots in zone B are in progress and are yet to be finalised.
“We have problems with the unstable power supply, but we hope the situation will improve in time, since the government is helping us.
“We will try to lease the land plots in zone B as soon as possible, depending on investor demands,” he said during a donation event.
Zone B of the SEZ is 2000 hectares in size. 101 hectares were included in the first phase of the project, which started on February 24 this year.
“The investors in Thilawa usually raise the issue of power supply. Although we have some problems with the stability at the moment, the situation will improve,” Mr Yanai said.
A total of 82 companies have invested in zone A. Some 66 companies have started construction works, and 33 companies are now ready to operate. The zone has received a total of US$1 billion (K1.36 trillion) in investments, he added.
SEZ Management Committee Chair U Set Aung told the media in early March that Thilawa SEZ would establish Zone B and construction of infrastructures would be completed by mid-2018.
In Myanmar, Thilawa SEZ is the fastest growing and most advanced among the three SEZs in the country, with the other two being Dawei and Kyaukphyu.
In addition, a new SEZ will be built in Yangon Region in order to bolster Myanmar’s lackluster manufacturing sector, Chief Minister U Phyo Min Thein said recently.
Likewise, 29 industrial zones in Myanmar will be upgraded, he added.
Source: http://www.mmtimes.com/index.php/business/26245-thilawa-sez-zone-b-open-to-investors-soon.html