A total of 21 foreign companies and one local firm have signed contracts with Myanmar to develop the Thilawa Special Economic Zone (SEZ) on the outskirts of Yangon.
The 21 foreign companies include nine from Japan, four from Taiwan, three from Thailand and one each from China, Hong Kong, Sweden, the USA and Australia.
Under the deals signed with the Myanmar-Japan Thilawa Development (MJTD) Co Ltd, these foreign firms will 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 expression of interest in the 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 Corp.