Chinese investors eye garment sector
2018-05-09 11:11:18 / MTG
Chinese entrepreneurs have discussed with Yangon Region Investment Committee on the expansion of garment industry in industrial zones in Yangon, said Myo Khaing Oo, joint-secretary of Yangon Region Investment Committee.
Aung Htoo, deputy minister for Commerce said: “Currently, Myanmar’s textile industry is rapidly growing. Imports of garment by the EU and Asian countries become high.
Entrepreneurs from Japan, China, South Korea and Taiwan have opened joint-venture garment factories in the country. Now the number of garment factories has reached more than 400. In 2016, the garment sector created 350,000 jobs. Female workers represent 90 per cent of the total workforce.
Tun Tun, the central executive of Myanmar Garment Entrepreneurs Association said In November, 2017: “The garment industry has long been practicing Cut-Make-Pack (CMP) system for over 20 years. But it is not in a position to shift from the CMP system to the FOB system due to lack of infrastructure, transparency in banking system, information and investment power.”
In 2017-2018 FY, export earnings from CMP garment sector hit US$ 2.58 billion. It is one of the top export items, according to the Commerce Ministry.
Japan and European countries have placed most garment orders from Myanmar.
Source From: ElevenMyanmar
More News
- Postponement Announcement: The 9th Cambodia International Textile & Garment Industry Exhibition (CTG) CTG / 2024-03-04 14:50:53
- Postponement Announcement: The 9th Cambodia International Machinery Industry Fair (CIMIF) CIMIF / 2024-03-04 14:43:08
- A Whole New Business Platform for Thailand's PCB and Electronics Manufacturing Chain, Intelligent Asia Thailand Thailand PCB and Electronics Manufacturing Exhibition / 2024-02-29 11:18:22
- VTG is ahead, successfully addressing industry bottlenecks in textile transformation VTG - Vietnam Int'l Textile & Garment Industry Exhibition / 2024-01-16 10:15:19
- ANEX 2024: Register and Reserve Your Booth Now! Asia Nonwovens Exhibition And Conference / 2023-12-28 13:38:44
- TNFIA joined the 2023 Taiwan-Thailand Industrial Summit in Bangkok, introducing ANEX2024 to the Southeast Asian market Asia Nonwovens Exhibition And Conference / 2023-12-28 13:38:36
- Heading to the ANFA Conference in Hong Kong Asia Nonwovens Exhibition And Conference / 2023-12-28 13:38:28
- TNFIA President Jian was interviewed by Japan Nonwoven Reports, sharing Taiwan's experience and promoting ANEX2024. Asia Nonwovens Exhibition And Conference / 2023-12-28 13:38:20
- Book your booth at the 2024 Taiwan Wine & Spirits Festival in spring! TWSF in SPRING / 2023-12-08 09:57:07
- 2024 Taiwan Wine & Spirits Festival, where passion meets perfection! TWSF in SPRING / 2023-12-08 09:51:37
- Highlights of the Successful Conclusion of VietnamPlas 2023 Vietnam Plas (HCM) / 2023-12-07 15:59:11
- VietnamWood's Digital Path to Woodworking Excellence VIETNAMWOOD / 2023-11-08 18:19:34
- Apply your visit to Taiwan International Food Industry Show 2023 Taiwan Int'l Food Industry Show / 2023-10-27 11:45:13
- Apply your visit to 2023 Taiwan Wine & Spirits Festival Taipei Int'l Wine & Spirit Festival / 2023-10-27 11:38:49
- Apply your visit to Taiwan International Tea Expo 2023 Taiwan Int'l Tea Expo / 2023-10-27 11:35:03
- Apply your visit to Taiwan International Coffee Show 2023 Taiwan Int'l Coffee Show / 2023-10-27 11:30:06
- Booth registration for ATLife 2024 opens now! Assistive Technology for Life / 2023-10-24 16:07:50
- 【VietnamWood 2023】Profession and Entertainment ALL in ONE VIETNAMWOOD / 2023-09-23 11:02:52
- 【VietnamWood 2023】 Has a successful start VIETNAMWOOD / 2023-09-22 09:58:41
- 【VietnamWood 2023】Highly reputed by exhibitors VIETNAMWOOD / 2023-09-22 09:56:16