Deputy Minister of National Planning & Economic Development Set Aung has said that building factories will be the first step in establishing the Thilawa Special Economic Zone (SEZ) and that work will commence on the project by the end of this year.
Speaking at a public meeting at the Department of Human Settlement & Housing Development (DHSHD) in Thanlyin on July 30, he said that as per the MoU signed between Myanmar and Japan, the Thilawa SEZ project will be implemented in three phases, and that the project will encompass some 296 hectares of land.
Myanmar economists such as Hla Maung have long noted that economic advancements in other Asian countries such as China, South Korea and Thailand were seen after implementing special economic zones, so many feel such developments will help grow Myanmar’s economy.
SEZs are set to be developed in Thilawa on the coast just southeast of Yangon; at Dawei, farther south in Tanintharyi Region; and at Kyaukphyu in Rakhine State.
Three Japanese companies including Mitsubishi have signed deals to implement the Thilawa SEZ.
