21 foreign companies sign contracts with Myanmar to develop SEZ

Yangon Business Center In Myanmar

A total of 21 foreign companies and one local’s have signed contracts with Myanmar to develop the country’s first biggest Thilawa Special Economic Zone (SEZ) project being implemented on the outskirts of Yangon by a Myanmar- Japan joint venture, sources with the SEZ administration said Wednesday.

The 21 foreign companies include nine from Japan, four from China’s Taiwan, three from Thailand and one each from Chinese mainland, China’s Hong Kong, Sweden, the United States and Australia as well as one from Myanmar.

Under contracts with the Myanmar-Japan Thilawa Development ( MJTD) Co Ltd, these foreign companies will respectively undertake works related to steel pipe, construction, aluminium, finished wood product, textile, beverage can manufacturing and plastic at the 400-hectare Class A Area of Thilawa SEZ in Thanlyin, 20 kilometers southeast of Yangon.

The 21 foreign companies were shortlisted from 51 which submitted intention of interest in the investment project.

MJTD was formed by two Myanmar companies and two Japanese companies sharing under an ownership ratio of 51 to 49.

The two Myanmar companies comprise the government’s Thilawa SEZ Management Committee and the Myanmar Thilawa SEZ Holdings Public Co Ltd (MTSH), while the two Japanese companies involve MMS Thilawa Development Co Ltd and Japan International Cooperation Agency (JICA).

MMS Thilawa is a consortium group of Mitsubishi, Marubeni and Sumitomo Corporations.

Myanmar has started the land lease procedure for Phase 1 of the Thilawa SEZ project Class A Area which has about 400 hectares divided into two phases out of nearly 2,400 hectares in total.

The project began implementation in November 2013 and the commercial run of the Thilawa SEZ is expected to start in mid-2015.

 

 

 

 

Source : China Daily | October 2, 2014

Thomas D’Innocenzi

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About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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