Thilawa SEZ expects 100 companies over the next five years

According to the National Planning and Economic Development Ministry, Thilawa Special Economic Zone (SEZ) expects about 100 companies to come and conduct business in Zone Aover the next five years.

An official from the National Planning and Economic Development Ministry said that infrastructure projects were currently being implemented on a 400-hectare area in Thilawa SEZ and many companies at home and abroad could invest here.

Japanese instant noodle company ‘Acecook’ intends to invest and start their manufacturing there in 2017 and beverage companies POKKA SAPPORO and Asahi Group Holding have plans to do business there in association with domestic companies.

An official from the National Planning and Economic Development Ministry said, “We are competing to invite these companies which are shifting from other countries because of high wages. At this time, we must act properly to grasp this opportunity.”

He added that the ministry had already issued business licenses to 41 companies from 13 countries to conduct business in Thilawa SEZ and currently 11 companies had arrived and had started construction.

Thilawa SEZ Zone A was opened on September 23, 2015. According to a statement issued by the National Planning and Economic Development Ministry, the total investment by 38 foreign and domestic companies up to July 2015 in this zone was US$ 431.757 million.

 

Source: Mizzima

 

 

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