Govt hopes manufacturing complex will boost foreign investment, employment
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THILAWA (Myanmar) - From the banks of the Yangon River rises Myanmar's great economic hope, a US$1.5 billion (S$2 billion) manufacturing complex designed to lure investment and help the impoverished country compete in the global marketplace.
The first phase of the 2,400haThilawa Special Economic Zone (SEZ), an hour from the commercial capital Yangon, is only months away from completion, and plans to host some 100 factories employing 50,000 people are being fast-tracked.
Corruption, sanctions and scant investment under a half-century of military dictatorship have left Myanmar with a labour surplus, and the reformist government is hoping to capitalise on its workforce to give it a competitive edge.
A diverse range of manufacturers from Suzuki Motor Corp to a soft toy factory called Cute Myanmar are getting ready to set up at Thilawa.
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