An official from Myanmar has said that 40 foreign manufacturers are interested in setting up in the Thilawa economic zone, according to a report on Reuters.
Production could begin in 2015 with companies producing clothing, foodstuff, electronic appliances, toiletries and car parts, according to Set Aung, vice-governor of Myanmar's central bank and chairman of the committee overseeing the economic zone.
Shares of Myanmar’s Thilawa Special Economic Zone will go on sale next month, in a bid to raise the $21 million necessary for funding the first phase of construction of the much-anticipated SEZ near Yangon, the financial center of Myanmar, according to the International Business Times.
The project is a joint venture planned by the Burmese and the Japanese government, along with a consortium of Japanese companies and the federation. The Burmese side owns 51% of the project, which will eventually include a deep sea port south of Yangon, Japanese factories and large housing projects
Myanmar Thilawa SEZ Holdings Public Ltd. Co., a consortium set up by nine Myanmar companies, owns 41% of the shares in the zone and the Thilawa SEZ Management Committee, a state entity chaired by Set Aung, has the remaining 10% held on the Myanmar side.
On the Japanese side, the MMS Thilawa Development Co. Ltd., a consortium grouping Mitsubishi Corp, Marubeni Corp and Sumitomo Corp, has 39% and the Japan International Cooperation Agency 10%.
