MIC permitted eight enterprises including four garment enterprises

Myanmar Investment Commission (MIC) granted permission to eight enterprises including four garment enterprises, according to an announcement released by MIC. These permitted enterprises include manufacturing of garments under Cut-Make-Pack (CMP) system, manufacturing and marketing the corns, prawns and assorted snacks, sterilized, sweetened and condensed Milk, corrugated carton box and beautification corrugated carton box and cement, […]

MIC grants permission for nine investments

Myanmar Investment Commission (MIC) granted permission on 19th August for nine local and foreign investments, including a five-star hotel. Pun Hlaing Lodge Hotel Management Co., Ltd has been given permission to operater a five-star hotel on 2.196 acres of land at Pan Hlaing Golf Estate, Hlaingthaya Township, Yangon, it is learnt from a meeting of […]

Garment industry expected to earn US$10 billion from export in a decade

The export value from the garment industry under Cutting-Making and Packing (CMP) system is expected to fetch up to US$10billion in a decade, it is learnt from Myanmar Garment Manufacturers Association (MGMA). “We expect garment industry to be in operation with 1,500 factories in 2025, with a total labour force of one million. To meet […]

CMP garment industry eyes US, Canadian and Russian markets

Myanmar garment factories with Cutting-Making and Packing (CMP) systems plan to expand their markets to America, Canada and Russia, said an official from Myanmar Garments Entrepreneurs’ Association. Myanmar’s main markets currently are Japan, South Korea and the EU Myanmar is making a concerted effort to boost its export products focusing mainly on its garment and […]

Chinese garment firms eye Myanmar as low-cost hub

Thanks to soaring production costs in China coupled with surge in labour wages, Myanmar’s garment sector is emerging as the last low-cost production frontier for factory relocation and diversification in Southeast Asia. This, together with the difficulty in hiring garment workers and the Chinese government’s policy of upgrading its manufacturing sector with a strategic shift […]

Reorganised MIC grants eight licences

In what may be an accelerating trend toward a more value-added economy, the reorganised Myanmar Investment Commission has granted licences to eight companies, including several in the manufacturing sector. This represents a change from the past, when most companies seeking MIC licences were in extractive industries. MIC was reorganised with new cabinet members, private entrepreneurs, and […]

Myanmar plastics industry bound by lack of CMP licenses

Yangon, June 24 – the Myanmar Plastic Industries Association (MPIA) has voiced the Myanmar plastics industry would benefit from the issuing of Cut-Make-Packaging (CMP) licenses in the manner as has been supplied for the country’s garment factory industry. Myanmar plastic enterprises are currently confined to distribution solely within the domestic market. If domestically produce plastics […]

Myanmar garment industry expects to earn over US$2billion through exports

THE export value of the Myanmar garment industry is expected to reach over US$2billion according to the Myanmar Garment Entrepreneurs Association. Entrepreneurs from member nations of the European Union have aims to invest in companies belonging to the MGEA, it has been learned. Garment factories in the country are required to maintain worker’s rights and […]

Myanmar targets $12 bn of garment exports by 2020

Myanmar’s garment industry has set an ambitious export revenue target of $12 billion and create around 1.5 million new jobs by 2020, the Myanmar Garment Entrepreneurs Association has announced. The industry has gained momentum since 2014 when its export earnings amounted to $1.5 million. By mid-2015, the industry created over 230,000 jobs. The local garment […]

Myanmar garment firms explore Paris & Berlin markets

Representatives of nine top Myanmar based apparel factories went to Paris and Berlin last month in order to get a better understanding of European markets and European buyers’ requirements. “The participants were able to gain insights into the multilayered European textile market by visiting two major garment and textile trade shows located in Paris and […]