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Myanmar launches first phase of Thilawa SEZ project

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(Globalpost/GlobalPost)

Myanmar launches first phase of Thilawa SEZ project

YANGON, Nov. 30 (Xinhua) -- Myanmar on Saturday began construction of the first phase of Thilawa Special Economic Zone project on the outskirts of Yangon.

The first phase, covering 400 hectares out of the entire 2,400- hectare zone, is expected to be completed by 2015, U Set Aung, Chairman of Thilawa SEZ Management Committee and Deputy Minister of National Planning and Economic Development, told Xinhua at commencement ceremony of Thilawa SEZ.

Thilawa SEZ will be jointly developed by Myanmar with 51 percent stake and Japan with 49 percent, U Set Aung said, adding that Myanmar side will sell its share to the public in early 2014.

The SEZ is home to factories of high-tech industry, textile, labor intensive industry and manufacturing industry.

The Thilawa SEZ project has so far been marred by land disputes affecting hundreds of farmers.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/131130/myanmar-launches-first-phase-thilawa-sez-project