68 companies approved to invest in Thilawa SEZ

A total of 68 companies have been approved to invest in the Thilawa Special Economic Zone (SEZ), according to an announcement released by Thilawa SEZ Management Committee.

The granting of a permit to work in the areas of a first-phase project on 400 acres of land in Thilawa SEZ was issued during the second week of November. The permitted companies are from 17 countries, mostly from Hong Kong, Japan and China. The first phase of Thilawa SEZ was launched in September, 2015. The land is leased at US$80 per square meter. Foreign investors are attracted to this zone with its cheaper price and 50-year leases, it is learnt.

There are a total of 79 companies from 17 countries which have entered into agreements to work in Thilawa. A Thilawa Zone B project was planned to start at the end of this year on 101 acres of land. But the project was suspended because locals and authorities are still in discussion.

Source: The Global New Light of Myanmar

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