Myanmar: Thilawa SEZ sees drop in rent income due to drop in foreign investments

Foreign investment in Thilawa Special Economic Zone (SEZ) has fallen drastically, negatively impacting land or ground rent income by over 6 billion kyat, said the Thilawa SEZ Management Committee said.

About 113 factories from 20 countries invested in Thilawa SEZ and 93 factories and manufacturing units were still running until June 2022 but the number has increased to 102 at the end of December 2022.

Despite more factories running in the SEZ the inflow of foreign investment reportedly fell drastically so that the income from land rent in the SEZ has seen a drop.

The committee said: “Foreign investments fell after COVID-19 and then the land rent income fell from 8.628 billion kyat last year to 2.581 billion kyat this year (2022).”

Total foreign investment in Thilawa SEZ stands at US$2.18 billion up to the end of November 2022.