Japan tops list of foreign investors in Myanmar SEZs

Japan tops list of foreign investors in Myanmar SEZs

More than 70 businesses operate in the Thilawa Speical Economic Zone. (Bangkok Post photo)
More than 70 businesses operate in the Thilawa Speical Economic Zone. (Bangkok Post photo)

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.


Do you like the content of this article?
COMMENT

AWC cut rents as visitor numbers plummet

SET-listed Asset World Corp Plc (AWC) has cut rental rates at Asiatique, where the number of visitors dropped.

15:48

Bangkok Airways cuts back as virus bites

Bangkok Airways is cutting executive salaries, sending staff on unpaid leave and reducing the number of flights to cope with the downturn in business because of the spread of coronavirus disease.

14:40

Teacher, 3 women arrested running karaoke sex bars in Surin

SURIN: A male teacher and three women were arrested on charges of procuring girls aged under 18 for prostitution, the youngest being 14, following a raid on three karaoke bars in Sikhoraphum district.

14:24