Five garment companies get MIC approval

The Myanmar Investment Commission gave the green light to five garment companies that will operate under cut-make-pack systems at its meeting on August 26.

The companies are Myanmar Sumec Win Win Garment Co Ltd, Gainway International (Myanmar) Garment Co Ltd, Saung Oo Shwe Nay (Golden Sunshine) Co Ltd, Sanyuan (Myanmar) Apparel Manufacturing Co. Ltd and CM Garment Industrial Ltd.

CM Garment Industrial Ltd is a locally owned company, while the rest have received foreign investment.

The garment factories are located in industrial zones in Hlaingtharya, Shwepyitha and Hmawbi townships in Yangon.

The MIC grants permits based on the recommendations of region/state governments, union ministries and organisations. The newly approved businesses are expected to create 5,956 new jobs in Myanmar.

 

Source: Eleven Myanmar

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