Foreign investments in garment industry on the rise in Myanmar

Myanmar information search service

Some foreign countries such as China, Hong Kong , French, Singapore and Japan will operate garment industry including rice and other agricultural with Cutting, Making and Packing(CMP) system in Myanmar, according to Foreign Investment Law.

A Chinese companies such as Jiangsu Solamoda Garments Group Co;Ltd and Dong Fang Star Garment Factory Ltd will carry out the garment industries with CMP system at Shwe Than Lwin industrial zone in Hlaingthayar Township and Halingthayar industrial zone-1.

Hong Kong based companies Kamtex Limited, Richest Time Limited, Sinobest Brothers Ltd and Archid Garment factory Limited will also work garment industry and its related business at industrial zone-1 in Dagon Myothit (South) Township, Mingaladon industrial zone and Shwe Lin Pan industrial zone in Hlaingthayar Township.

French firm, Societe Industrielle Agricole Et Commercial D’Outre Mer (SIACOM) will cooperate rice mill and other agricultural tasks in Hinthada Township of Ayeyawady Region, lower Myanmar as a joint venture with Myanmar company.

Japan Logistic System Corp will also operate the commodities transport services with Myanmar Company.

Singapore firm will invest in hotel industry with Building, Operating and Transferring –BOT system in Bahan Township of Yangon and Myanmar Investment Commission has allowed the permission to those who will invest in those industries.

A total of 32 countries will invest in Myanmar over US$ 42,496 million until at the end of May, this year, according to the reports of Directorate of Investment and Companies Administration under the Ministry of National Planning and Economic Development.

Source: Eleven News Media

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