Myanmar will begin the construction of a new economic zone located next to the Dawei project in 2013.
Director general Aung Naing Oo of the
Directorate of Investment and Company Administration (DICA) on Monday
said the Thilawa Special Economic Zone will be built on 2,400 hectares
of land in Yangon region and will undergo three phases.
“For the first phase, about 450 hectares
of land will be developed by Myanmar and Japanese companies. The
development will be completed by 2015,” Aung Naing Oo said during the
Myanmar-Thai Trade and Investment Forum.
Investors from Myanmar and Japan will
team up for the first phase. Other foreign investors including South
Korea and Thailand are in talks with DICA for a possible investment on
the new project.
About 33,000 to 45,000 job opportunities
will be needed for the first phase of the project. “At least 230,000
workers could be employed during the entire project,” DICA said.
Myanmar is planning to develop three
special economic zones located in Thilawa, Kyaukphyu and Dawei. The
first special economic zone in Myanmar, the Dawei deep seaport project
includes an industrial zone and a rail link to Thailand.
source: Eleven Myanmar
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