60 pc of investments in Thilawa SEZ target local market

There are 85 local and foreign investments in Thilawa Special Economic Zone Project, with most of them targetting the local market.

Sixty per cent (51 businesses) of the total investments target the local market, 29 per cent (25 businesses) traget the export market, and nine per cent service the distribution sector, according to Thilawa SEZ management committee.

Japan accounts for 50.58 per cent of the total investments; Asean countries excluding Myanmar, 22.35 per cent; East Asian countries, excluding Japan, 15.29 per cent; the US and the EU countries, 5.88 per cent, and local companies, 3.52 per cent.

Thirty-six out of the 85 companies have started their operations and the remaining 34 companies are under construction and will launch their operations in the years to come.

The Thilawa SEZ project has drawn the attraction of international investors because there are guarantees for tax relief and better infrastructure. The project has seen a lot of progress since it was established two years ago.

Until early October, the total foreign investments in Thilawa SEZ project reached over US$ 1.1 billion. The construction of Zone-A has been completed. About 96 per cent of Zone-A and 26 per cent of the under-construction Zone-B have been sold out.

From November 2014 to July this year, total investments reached $1.14 billion, according to the Directorate of Investment and Company Administration.

Investments in industrial zone reached $ 842.9 million, accounting for more than 73 per cent of the total investments. Investments in good trading sector amounted to more than US$101 million; the service sector, more than $81 million; the transport and logistics sector, more than $77 million; housing development sector, more than $30 million; and hotel sector, more than $12 million.

Source: Eleven Myanmar

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