Myanmar’s garment industry receives growing foreign investment

Along with the rise of foreign investments, the employment rate in the industry has also increased.

“MIC has noticed that the garment sector received most of foreign investments in the last six months. Another sector which enjoyed growth during the period was manufacturing,” said Khine Khine Nwe, a n MIC member at a recent forum organised by Myanmar Garment Manufacturers Association (MGMA).

Industry sources say Japan and South Korea have made most orders from garment factories in the country. The US and European countries also increasing garment orders after Myanmar was allowed into a trade preferences scheme by the European Union.

“A garment factory usually employs 500 to 1000 people here. Some factories employ more than 1000 people. Nearly 20 new factories are preparing to launch their operations this year. And employment rate in the industry almost doubled during the period,” said an official from MGMA.

Myanmar’s largest investor, China has invested more than $14 billion in the country by 30 June this year. Myanmar has earned US$ 30 billion in garment exports alone from January to March of this year according to recent data released by MGMA.

Source: Eleven Media

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Dagon City", “MOGE”, “yangon stock exchange”,"MECTEL", "hydropower", etc.

To learn about the business opportunities in Myanmar click here

To evaluate the various segments of the market that you could possibly enter base on your competencies you can do a Custom Market Entry Strategy Research. You can see a sample report at page "Actual Sample of Client Report”. Click here to go to page.

Do you know that IE Singapore is giving up to SGD 20,000 support for Singapore company to venture into Myanmar? To learn more click here