Textile and Garment Special Zones to be established

ARRANGEMENTS will be made to found textile and garment special zones (TGSZs) to manufacture garment products of international quality specifications and to issue certificates to enable the products to enter the international textile and garment market, it has been learned.

Effort will also be exerted to attract the attention of foreign investors to the industrial sector. The required raw materials, machines and equipment will be imported.

Currently, there are a total of 380 member companies of the Myanmar Garment Entrepreneurs Association. Among them, about 300 enterprises are exporting products to the foreign market.

There is a total of 29 industrial zones with over 4,000 factories in Yangon Region and a total of over 300,000 people in the labour force, the majority of whom are engaged in the garment industry, it has been reported.

Myanmar’s garment export sector is expected to earn US$2billion for the 2016-2017 fiscal year.

Over a half of Myanmar’s garment enterprises exported their products to the USA in 2000 and 40 per cent to the EU. However, Myanmar’s garment industry has since turned to Japan and South Korea due to economic sanctions on Myanmar, said U Phone Naing, a garment businessman.

Source: Global New Light of Myanmar

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”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

 Opportunities from COVID19

.

Looking for foreign investors to invest in your business in Myanmar