YANGON — The first special economic zone in Myanmar will be put into commercial operation by the end of June, an official said on Thursday.
"Construction of eight local and foreign factories on phase 1 of Thilawa SEZ is almost finished," said Thein Han, managing director of Myanmar Thilawa SEZ Holdings Public Limited.
Phase 1 occupies nearly 400 hectares southeast of the central city of Yangon, and will be the partly opened in June, he said.
"These factories will create at least 20,000 job opportunities for Myanmar people, and the whole of phase 1 could create up to 50,000 job opportunities," he said.
Including phase 2, which started construction in October, the Thilawa SEZ site covers 2,400 hectares, and is being developed by Myanmar-Japan Thilawa Development (MJTD), a Myanmar-Japan joint venture.
Work started in November 2013 and is due for completion in 2016 or 2017.
A total of 40 firms, mostly from Japan, Myanmar, Taiwan, Thailand and Singapore, have already signed up for participation.