Chinese Ggarmenters Considering Investment in Yangon
Entrepreneurs from China are considering making investment in the Yangon region of Myanmar. They have discussed the expansion of garment industry in Yangon industrial zones with the Yangon Region Investment Committee, according to Myanmarese media reports. The garment industry in Myanmar is rapidly growing due to demand from the EU and Asian countries.
Myanmar already has several garment factories in joint venture with entrepreneurs from Japan, China, Taiwan and South Korea.
The garment industry in Myanmar mainly caters to the cut-make-pack (CMP) system. The industry employs over 350,000 people with women constituting 90 per cent of the workforce.
In fiscal 2017-18, Myanmar earned $2.58 billion from CMP garment exports. Most of the shipments were destined to the European countries and Japan.
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