To ensure a smooth process for the manufacturing businesses in Special Economic Zones (SEZs), it is essential that their missions, visions, and implementation plans align with the State’s objectives. The development of trade and the enhancement of investment are critical for the economic growth of the State. SEZ implementers must remain focused on their roles to foster the development of these zones and the broader State economy.
Following the Head of State’s directives, SEZs, industrial zones in various regions, and MSME businesses must strive to increase the production of high-quality export goods while simultaneously working to attract both local and foreign investments.
Thilawa SEZ has demonstrated success with substantial investments and is operational. However, there is a need to attract more foreign direct investment (FDI). Similarly, ongoing projects like the Kyaukpyu SEZ must continue to draw in investors. Local authorities and SEZ supervisory committees should actively promote investment opportunities in the Dawei SEZ to further this goal.
Among Myanmar’s three SEZs, Thilawa SEZ stands out with over US$2 billion in foreign investments. Despite this success, the amount lags behind that of neighbouring countries in Southeast and South Asia. Therefore, SEZ authorities should not be complacent but should strive to attract even more investments.
Service personnel stationed at SEZs play a critical role in managing the smooth operation of businesses. These personnel must avoid any abuse of authority. It is equally crucial that officials at various levels oversee these personnel to prevent illegal trade activities, monetary abuse, corruption, and mismanagement.
To address these challenges, SEZ authorities and personnel must manage issues related to raw materials, trade processes, and the utilization of foreign currencies and loans for industrial operations. Additionally, officials must ensure proper compensation for land plots confiscated for the Kyaukpyu SEZ, adhering to established policies as closely as possible.
By addressing these critical areas and ensuring diligent management, the SEZs can continue to grow and contribute significantly to the State’s economic development. These efforts will help create a robust investment climate, attract more foreign direct investments, and support the production of high-quality export goods, ultimately driving the State’s economic progress forward.
It is certain that special economic zones will be the lifeblood of the booming state economy in the future. These will be pillars for the improvement of the trade sector as well as the economic sector while contributing to the socioeconomic development of the people. As such, authorities need to create smooth processes for businesspersons to engage production at the SEZs in the correct ways.
