Myanmar seeks investors for textile and garment - sportstextiles: Lea SportsTextiles

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Myanmar seeks investors for textile and garment zone

14/02/2017
Myanmar’s minister of industry plans to set up a specialised textile and garment zone in the country’s Bago region, and will invite investment from domestic and overseas companies.

The ministry is currently conducting a feasibility study with an unnamed Japanese company at the site, which occupies 127 acres.

It is hoped that the specialised zone will generate jobs for local people, as well as making a contribution to Myanmar’s economic growth. 

The Myanmar Investment Commission (MIC) has also recommended that a series of apparel stitching factories be established in the town of Ponnakyun. The aim is to create jobs so that local people stop migrating to nearby countries in search of work. 

MIC has suggested that several fiscal incentives should be offered to companies willing to start projects in the region, including tax exemptions and exemptions on customs duties and local taxes for raw materials and partially manufactured goods. 

Related stories:

New training course boost Myanmar’s garment industry 04/09/2017
Myanmar predicts impressive growth in garment exports 22/02/2017
South Korean company to invest in Myanmar garment zone 23/08/2016
Myanmar becomes a top-20 apparel supplier to the EU 21/01/2016
Impressive growth for Myanmar garment industry 04/12/2015
More certainty for Myanmar after minimum wage agreed 02/09/2015
Statement aims to promote “decent conditions” in Myanmar 05/09/2014
Gap to source clothes from Myanmar 10/06/2014

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