Myanmar industrial park eyed for 2015

Thilawa Port, 25 kilometers south of Yangon, currently under construction

Myanmar’s first industrial park, the Thilawa Special Economic Zone in Yangon, will open in 2015, the country’s Deputy Minister for National Planning and Economic Development, U Set Aung, said at the signing of a development agreement with Japan’s Vice Minister for Economy, Trade and Industry, Nobuhiko Sasaki, on December 21.

The 6,000 acre development, financed by Japan, “will create new jobs and aid poverty alleviation efforts,” Aung said.

The Thilawa project is located in Yangon’s Thanlyin township. Under the agreement, work will begin on the project next year. A port and the industrial park will be operating in 2015.

Tokyo has already written off massive debts owed by Myanmar, and Japanese media in November reported that Japan would pledge a fresh $615 million in loans, a significant portion for the Thilawa project – although no final figures have been released.

U Set Aung said the zone will create employment for Myanmar working abroad illegally and also rural poor who migrate to Yangon, the Myanmar Times reported.



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[caption id="attachment_6121" align="alignleft" width="240"] Thilawa Port, 25 kilometers south of Yangon, currently under construction[/caption] Myanmar's first industrial park, the Thilawa Special Economic Zone in Yangon, will open in 2015, the country's Deputy Minister for National Planning and Economic Development, U Set Aung, said at the signing of a development agreement with Japan’s Vice Minister for Economy, Trade and Industry, Nobuhiko Sasaki, on December 21. The 6,000 acre development, financed by Japan, "will create new jobs and aid poverty alleviation efforts," Aung said. The Thilawa project is located in Yangon’s Thanlyin township. Under the agreement, work will begin on the project...

Thilawa Port, 25 kilometers south of Yangon, currently under construction

Myanmar’s first industrial park, the Thilawa Special Economic Zone in Yangon, will open in 2015, the country’s Deputy Minister for National Planning and Economic Development, U Set Aung, said at the signing of a development agreement with Japan’s Vice Minister for Economy, Trade and Industry, Nobuhiko Sasaki, on December 21.

The 6,000 acre development, financed by Japan, “will create new jobs and aid poverty alleviation efforts,” Aung said.

The Thilawa project is located in Yangon’s Thanlyin township. Under the agreement, work will begin on the project next year. A port and the industrial park will be operating in 2015.

Tokyo has already written off massive debts owed by Myanmar, and Japanese media in November reported that Japan would pledge a fresh $615 million in loans, a significant portion for the Thilawa project – although no final figures have been released.

U Set Aung said the zone will create employment for Myanmar working abroad illegally and also rural poor who migrate to Yangon, the Myanmar Times reported.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

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