Foreign investments of US$362.28 million flowed into the Special Economic Zones (SEZs), under the Special Economic Zone Law, in the 2018-2019 fiscal year, according to figures released by the Directorate of Investment and Company Administration, Myanmar state media reported.
A total of 106 enterprises from 18 countries and four local businesses have ploughed in $1.84 billion so far in the zones, data on FDI of existing enterprises shows, according to Mizzima. Japan topped the list of foreign investors in the previous fiscal, accounting for more than 36% of the overall investment, followed by Singapore and Thailand.
FDI also flowed into the SEZs from South Korea, Hong Kong, the United Kingdom, Australia, the United Arab Emirates, Malaysia, Austria, Taiwan, Panama, China, Brunei, Vietnam, France, Switzerland, and the Netherlands.
Currently, 74 businesses are operating in the Thilawa SEZ, and 18 businesses are beginning to export goods. The SEZ is employing over 20,000 workers, including permanent and construction workers, according to the management committee.