Commerce Industry: Factory Spaces and Statement Tuesday

commerce industry: The 2,400-hectare economic zone already boasts nine rental factory spaces of 1,500 sq. meters, of which seven are now occupied, according to The Japan Times. The latest move adds diversity to the tenant base and is expected to further boost Thilawa SEZ's contribution to Myanmar's economy, MJTD said. The OCCI, which is comprised of businesses around Osaka, and the Union of Myanmar Federation of Chambers of Commerce and Industry have signed a memorandum of understanding to establish rental factory spaces of 500 to 750 sq. meters in rental factories inside the zone, Myanmar Japan Thilawa Development said in a statement Tuesday. The economic zone, located southeast of Yangon, has been a solid success since it officially opened for business in 2015, with more than 95 percent of its Zone A already occupied. The expansion of Zone B is slated for completion by the middle of next year and is expected to create up to 40,000 new jobs. A total of 78 companies, of which 39 are from Japan, have opted to locate their production, assembly or logistic facilities in Thilawa, with total investment amounting to over 1 billion, according to an earlier release from MJTD. Of the 78 companies, 24 have already begun operations. (news.financializer.com). As reported in the news.