Japan tops list of foreign investors in SEZs

08 October 2019
Japan tops list of foreign investors in SEZs
A staff members worker on the production line at the Suzuki Thilawa Motor Co., Ltd. in the Thilawa Special Economic Zone (SEZ) on the outskirt of Yangon, Myanmar, 21 August 2019. Photo: Nyein Chan Naing/EPA

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, 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. Japan topped the list of foreign investors in the previous fiscal, accounting for more than 36 per cent of the overall investment, followed by Singapore and Thailand.

FDI also flowed into the SEZs from the Republic of Korea, Hong Kong, the UK, Australia, the UAE, Malaysia, Austria, China (Taipei), Panama, China, Brunei, Viet Nam, 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.

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