26-27 May, 2014 - Yangon, MYANMAR
PARKROYAL Yangon
PARKROYAL Yangon
Myanmar's SEZ in Thilawa, in the outskirts of Yangon, is slated to be a major industrial hub.
In early March, The Financial Times reported that in a bid to tackle the challenges of rapidly rising wages, problems of hiring workers in China and a strong Chinese currency, a group of Hong Kong based garment manufacturers are in the process of relocating some portions of their operations from China to the Myanmar's Thilawa SEZ.
The report further states that as many as 12 such companies have already signed a letter of intent confirming their willingness to open factories in the SEZ.
The factories in question are medium-sized and are estimated to recruit approximately 2,000 workers each in Myanmar.
The final terms of the deal are yet to be completed. The 12 companies are in the process of getting a land lease in the SEZ at USD 300,000 per acre for a period of 50 years.
Given the lack of infrastructure development, the Thilawa SEZ has not progressed as expected.
But financial assistance from Japan is expected to boost the development process. Tokyo has already confirmed to lend USD 500 million in infrastructure loans, with investment focusing on building power networks, water supplies and logistics.
More on the 'DEVELOPMENT & PROGRESS OF THILAWA SPECIAL ECONOMIC ZONE' will be shared by Mr. Winston Set Aung, Deputy Governor of Central Bank of Myanmar and Chairman of Thilawa Special Economic Zone Management Committee at CMT's flagship event - Myanmar Manufacturing Summit in Yangon on 26-27 May 2014. Mr. Kazuto Yamazaki, Deputy Managing Director of Famoso Clothing Co., Ltd will also share insights on the CHALLENGES & OPPORTUNITIES OF OPERATING A GARMENT FACTORY IN MYANMAR.
For enquiries, please contact Ms. Grace at grace@cmtsp.com.sg or call + 65 6346 9147.
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