Singapore is leading investor in Myanmar’s Thilawa economic zone

YANGON – Singapore is the top investor so far in a huge industrial zone on the outskirts of Yangon, the Eleven Media Group reported, citing the country’s Directorate of Investment and Company Administration.

Housing everything from children’s toy manufacturing to a car assembly plant and a deep sea port, the US$1.5 billion (S$2 billion) Thilawa Special Economic Zone (SEZ) has attracted a total of US$713.3 million of investments, said the report on Saturday (June 11).

Singapore leads a list of 13 foreign economies in terms of total amount invested, it said. Investments from the Republic amounted to US$298.15 million (S$406 million), followed by Japan (US$235 million), Hong Kong (US$38.65 million), Thailand (US33.2 million), the UAE (US$15.16 million), Panama (US$13.91 million), China (US$12 million), Malaysia (US$9 million), South Korea (US$8.3 million), Australia (US$7 million), Vietnam (US$6 million), Brunei (US$5 million), and Taiwan (US$4 million), according to the report.

Investments from within Myanmar topped US$28 million. Most of the total investments were in the industrial sector, followed by trade and services.

Singapore is used as a conduit by other countries, such as the US, to avoid trade sanctions maintained by Washington against the former military junta, the report added.

Myanmar owns a 51-per-cent stake in the project while Japan has 49 per cent.


Source:  The Straits Times


NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Puma Energy", “MOGE”, “yangon new town”,"MECTEL", "hydropower", etc.