Hpa-an Industrial Zone attracts only two foreign firms in six years

Only two foreign firms have invested in Hpa-an Industrial Zone in Kayin State between 2010 and 2016, according to the Kayin State Chamber of Commerce and Industry.

Those foreign firms from Thailand and Japan are joint-ventures with local entrepreneurs engaged in the garment and wool enterprises, it is learnt. Thai entrepreneurs recently visited the zone, but they conducted a study tour only to import their products rather than invest in the zone, officials said.

“If they invest in our country, more job opportunities will be created and local labourers will not need to work abroad”, said U Soe Thein, the vice chairman of Kayin State Chamber of Commerce and Industry.

Foreign investors are interested in Kayin State to make investments, but a shortage of labourers and transportation makes them hesitant to invest, U Soe Thein said.

“Kayin State has not seen much change in its economy. The Kayin State government will mainly focus on drug control and transportation facility,” he said.

There are 1,000 acres of land in the Hpa-an Industrial Zone, and the terms of the lease are 50 years, with the rent for an acre at Ks 25 million to Ks 40 million. Over 1,000 labourers are being employed at the zone, it is learnt.

There are three industrial zones in Kayin State: Hpan-an industrial zone, Myawady industrial zone and Phayathonzu industrial zone.

Myawady zone has attracted the largest amount of foreign investment in the state, according to the association.

Source: The Global New Light of Myanmar

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