Eco-friendly and job-creating investment being given priority to invest in Thilawa

Myanmar- Japan Thilawa Development Ltd (MJTD) has permitted investments in Thilawa Special Economic Zone giving priority to those who can create better job opportunities for the local people and are more eco-friendly.

Currently, a total of 84 companies have been permitted to invest in Thilawa SEZ Zone A and the first phase of the Zone-B, said an official from the MJTD.

The Thilawa SEZ is successful compared to the other economic zones neighboring countries. The government is still implementing the Thilawa SEZ Zone B. The construction of the Zone-B will take about one year and is thus estimated to be completed in 2018.

“We will not grant the land in Thilawa SEZ to the foreign investors if they fail to mention what type of business they will be engaged in. We will also grant the investment which can better the job opportunities for the local people and will have least environmental impact,” said an official.

Currently, there are nearly 5,000 employees working at the Thilawa SEZ. If we can attract more investments, we can create job opportunities for around 50, 000 employees.

The Thilawa SEZ Zone-A was started in 2014. The Zone-A (400 hectare) was started to operate in September 2015 with 79 companies. The Zone-B is being implemented this fiscal. The first phase (100 hectares/ 250 acres) of the Zone-B project is estimated to be completed in 2018.

The Thilawa SEZ is a joint venture between Myanmar and Japan. Myanmar government controls 51 per cent of the shares contributed by the private companies and the public companies whereas Japanese government holds 49 per cet of the shares contributed by JICA and other private Japanese companies.

MJTD has to supply the electricity, provide water and sewage disposal system which are the basic needs of the SEZ.

Source: The Global New Light of Myanmar