The Osaka Chamber of Commerce and Industry has agreed to help attract small and medium-size companies to the Japanese-backed Thilawa Special Economic Zone near Yangon by establishing small rental factory spaces, the zone's operator has announced.

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 2,400-hectare economic zone already boasts nine rental factory spaces of 1,500 sq. meters, of which seven are now occupied.