Colliers International has encouraged the Myanmar government to direct more resources towards the country's industrial zones in the wake of the Thilawa Special Economic Zone development.

Eleven Media Group reports Myanmar's Union Minister for Investment and Foreign Economic Relations, Thaung Tun, believes the systematic implementation of Thilawa SEZ was helping to attract more investment.

Related reading: FDI in Thilawa SEZ hits US $150 million in 3 months

"The one stop service center (OSSC) in the zone is providing quality services and help gain trust from the investors," he said.

According to the Myanmar Thilawa SEZ Holdings annual report for 2017/18,  97 per cent of Zone A and 61 per cent of Zone B are already sold, with 12 foreign investors from six countrie making US$140 million worth of investments in the zone already this year.

Colliers believes Thilawa SEZ should serve as an example for other areas within Myanmar.

Related reading: Foreign investment in Thilawa SEZ Project exceeds US$1.374 billion

"Thilawa SEZ, Myanmar’s first and only Special Economic Zone, is a prime instance of how an area can be developed by means of providing a quality space for foreign investments," it said.

"Its advantages include good transport connectivity, assurance of electrical power and logistics supply, simplified application processes, and more.

 "Other industrial zones should also have improved transport and energy infrastructure to gain more interest from investors and to keep up with the steadily growing demand."

Sources: Eleven Media Group, Colliers International

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