FDI in Thilawa SEZ project declines by $ 18.5 m

From April to August of the mini budget period, the foreign investments in Thilawa Special Economic Zone Project has dropped by US$ 18.5 million compared with the same period last year, according to a press conference by Myanmar Investment Commission on August 29.

Than Aung Kyaw, Deputy Director of Directorate of Investment and Companies Administration (DICA) said: “During five months of the mini budget period, the government has allowed foreign investments worth over US$ 171.100 million.”

Between April and August in 2017-2018 FY, the total foreign investments granted under the Thilawa Special Economic Zone Law amounted to US$ 189.6 million.

According to the Commerce Ministry, the total investments by about around 150 oversea companies are expected to hit US$ 1.7 billion after the completion of Thilawa Special Economic Zone.

Currently, 17 countries have invested in Thilawa Special Economic Zone. The 89 factories have got the green-light for operations while 39 factories have started their commercial operations.

Dr Shwe Hein, Secretary of Thilawa Special Economic Zone Management Committee said: “Zone-A is 90 complete. Companies have got investment permits only as infrastructures in Thilawa Special Economic Zone-B are under construction.”

On February 24, the first phase of a 101-hector project in Zone-B (250 acres) of Thilawa Special Economic Zone-B was launched.

The first phase of Thilawa Special Economic Zone-B is expected to complete in mid-2018. Since late 2017, some land spaces have been leased out to investors.


To see the original article click link here

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.