UNION MINISTER INSPECTS THILAWA SPECIAL ECONOMIC ZONE

Chairman of Myanmar Investment Commission (MIC) and Union Minister for Investment and Foreign Economic Relations U ThaungTun and MIC members inspected Thilawa Special Economic Zone in Thanlyin Township this morning.

The Union Minister and party were welcomed by Chairman of Thilawa Special Economic Zone and Deputy Minister for Planning and Finance U Set Aung, CEO/President of MJTD, Mr. Tomoyasu Shimizu and President U Win Aung and representatives from Japanese Embassy and JICA.

Firstly, Chairman of Thilawa Special Economic Zone, U Set Aung explained the Union Minister on the implementation of Thilawa Special Economic Zone while CEO/ President of MJTD, Mr. Tomoyasu Shimizu and President U Win Aung elaborated on MJTD’s implementation of the special economic zone. 

The Minister highlighted that the government has been striving various reforms and the MIC is doing its part in line with the reform measures. To this end, the MIC has been engaging proactively and encouraging responsible investments. In explaining his visit, the Union Minister acknowledged a success story of Thilawa Special Economic Zone which had started its operation in 2011 and also cited as a good example.The Union Minister commended on the quality of services delivered by One Stop Service Centre (OSSC). In addition, the Union Minister underscored the trust of being corruption-free between the management committee, investors and developers. He also highlighted anti-corruption is one of the important factors to gain investor confidence and attract sustained investments.

The Union Minister emphasized on the control of environmental pollution in the Special Economic Zone and draw attention on the importance of infrastructures, such as roads, bridges and ports in attracting investors. Commenting on public communication offices, the Union Minister said that as Myanmar’s economic policy is people-centered, it is important that to put public interest in the first place.

The Union Minister expressed his confidence to Thilawa Special Economic Zone and its strategies in attracting more investments. Furthermore, the Union Minister said that a Single Window System will be implemented in order to facilitate investments and Standard Operating Procedures (SOPs) are drafted in co-ordination with line ministries.

The Union Minister highlighted on the State Councellor’s recent speech at the Invest Myanmar Summit where she welcomed investments and explained that investment missions were conducted to major cities such as Tokyo, Seoul and Singapore to attract more investment. Finally, the Union Minister urged everyone that it is now the best time for investors to do business in Myanmar.

Afterwards, the Union Minister and party inspected the One Stop Service Centre of the management committee and applauded its staff for their exemplary works and asked them to be a role model for both domestic and foreign entities.

Later, representatives of Japanese investment Foster Electric (Thilawa) factory explain history of factory and production of Speaker, Headphone, audio electronic and other accessories while the Minister and group visiting the factory.

Then, the Minister and group visit Yangon Can Manufacturing factory, joint venture between Japan and Myanmar. Where Minster U Thaung Tun group are explained history of factory and production of tin by representatives of factory and then Minister and group inspect the factory.