Foreign investment in Myanmar's Thilawa SEZ hit 1.7 bln USD

Source: Xinhua| 2017-07-17 10:42:32|Editor: An
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YANGON, July 17 (Xinhua) -- Foreign investment in Myanmar's Thilawa Special Economic Zone (SEZ) on the outskirts of Yangon is estimated to have hit 1.7 billion U.S. dollars so far since the zone was launched four years ago, official media reported Monday.

Sectorally, the foreign investment in the SEZ was led by manufacturing sector with 773 million dollars, followed by import-export sector with 126 million dollars, logistics sector with 77 million dollars, service sector with 56 million dollars, the real estate sector with 30 million dollars and and hotel sector with 12 million dollars.

Of the Thilawa SEZ's total area of 2,400 hectares, 400 hectares, which represents Zone A, has been put into operation in September 2015.

Zone B with 101 hectares is set to be leased this year and is scheduled for completion next year.

According to the report, Myanmar sees a total of 150 foreign companies from over 17 countries invest in the zone and 40,000 job opportunities will be created.

Thilawa SEZ represents the first of its kind being developed in Myanmar with the other two - Dawei and Kyaukphyu SEZs being in progress.

Myanmar and Japan signed an agreement on Oct. 29, 2013 to introduce the Thilawa SEZ and is operated by Myanmar-Japan Thilawa Development Company, a joint venture between Myanmar and Japan formed by two Myanmar companies and two Japanese companies sharing a ratio of 51 to 49.