The US Ball Corporation producing drinking cans for the domestic market at Thilawa Special Economic Zone is planning to export its products, according to the firm's country manager Min Tala Nyan.
“Currently we produce cans for the domestic market. We’re discussing how to expand our business. After that, we will export,” he said.
The Ball-operated factory at the zone is capable of manufacturing about 500 million cans a year.
“At present we’re producing 350ml, 330ml and 250ml cans. 550ml is coming soon,” Min Tala Nyan added.
Ball invested US$45 million in the Thilawa factory and is expected to increase its investment soon.
The factory was officially opened on November 16 last year at Zone A of Thilawa.
It is reportedly the first direct US investment in the country.
From April to October last year, foreign investment in Thilawa in Yangon reached US$900 million, according to the Directorate of Investment and Company Administration.
A total of 14 countries have invested in 74 projects in the SEZ. The major investors are Singapore, Japan, Hong Kong, Thailand, the UAE, Panama, China, Malaysia, South Korea, Australia, Vietnam, Brunei and Taiwan.
Singapore topped the investors’ list with US$395 million in 21 projects. It has been used as a conduit for investment by western firms looking to avoid sanctions. It accounts for more than 44 per cent of the total investment.
Source: Eleven Weekly