Factories shut down in Yangon Region offered to reopen in Pegu industrial zone

It is learnt that 18 factories shut down in Yangon Region have accepted reinvestment offers . The shuttering of the factories does not mean that they will cease the operations and they are allowed five years tax-free operations in Pegu industrial zone, two years tax-free construction period, few issues between employers and employees and so they were offered to reinvest in Pegu region industrial zone.

Forty two factories are operating in the Pegu industrial zone which initiated operations in 2013 and ten factories are under construction. It was known that the plots of foreign industrial zones are fully occupied.

Of the 84 plots of local industrial zones, 55 percent are occupied . There are over 60 factories in the whole region. Most of the factories which are operating in Pegu industrial zone are garment factories, breweries and animal feed factories are also operating.

It reports that China, Japan and South Korea mostly invest there. The number of employees in the Pegu industrial zone is about 8,oooo employees and over 9,oooo employees are working in the factories of the whole Pegu region.

Khun Naung Lwin Htoo

Translated by Kyaw Hsu Wai

Credit: iMyanmarHouse.com