Developments at Thilwa SEZ
The Second phase of a 2400-hectare special economic zone to the south of Yangon will be finished in July 2016, with residential and commercial developments to follow. The first phase of the 400-hectare Zone A was finshed last September and the second phase is almost complete.
More than 85 percent of the land in Zone A has been reserved by 69 light industry manufacturers from across the globe. Nine of them are already exporting their products, ranging from car parts to garments and electronic gadgets. Twenty seven companies are preparing to begin operations and 33 more are starting to build factories. The Zone became commercially operational and was launched last September.
On completion of the second phase of Zone A in July, a company called Thilawa Property Development will build residential and commercial components on 35 hectares.
Thilawa project is a joint venture between Myanmar and Japan-each government has a 10 percent stake while a consortium of nine local companies called Myanmar Thilawa SEZ Holdings (MTSH) controls 41 pc and a Japanese private-sector consortium controls the remaining 39 pc.
Zone A has created jobs for 2221 people and would create at least 40,000 jobs by 2018.
Construction of Zone B is due to start at the end of 2016. It will include another industrial park on between 500 and 700 hectares. Land selection, environmental impact assessment study and design are currently being carried out for the Zone B Project.
25 MAY 2016