22 April 2024
According to the Thilawa Special Economic Zone Management Committee, during the more than three years under the State and Administration Council (SAC) government, investment in the Thilawa Special Economic Zone has increased by more than 100 million dollars, and the amount of exports has also increased to 2 percent of the national export volume.
“In the 2023-2024 fiscal year, as Thilawa Special Economic Zone, the investment increased by 6.2 million dollars. There are proposals prepared for an increase in the coming fiscal year 2024-2025. Currently, under the State and Administration Council government, the increase in investment has become more than 100 million US dollars. This is the amount of investment increase.
Last year, when we exported, we achieved the maximum amount that could be exported during the construction period of Thilawa Special Economic Zone. The amount of our exports is about 2 percent of the national export amount, which we can handle,” U Yan Naing Tun, chairman of the Thilawa Special Economic Zone Management Committee, told State-owned media.
In addition, in the past, only companies in the Free Zone within the Thilawa Special Economic Zone could export, but since 2022, companies in the Promotion Zone importing raw materials from abroad, producing finished products and selling them back to the country have been able to increase their exports.
The 2021-2022 fiscal year in which the SAC government was in charge; In 2022-2023 fiscal year and 2023-24 fiscal year, the total amount of foreign investment was allowed only 2.944 billion dollars (nearly 1 billion dollars per year). Although foreign investment inflow was low, it was able to allow up to 1.215 billion dollars (more than 40 percent) for the electricity sector, which is the main need of the country, according to the Directorate of Investments and Companies.
