Myanmar plastics industry bound by lack of CMP licenses

Yangon, June 24 – the Myanmar Plastic Industries Association (MPIA) has voiced the Myanmar plastics industry would benefit from the issuing of Cut-Make-Packaging (CMP) licenses in the manner as has been supplied for the country’s garment factory industry.

Myanmar plastic enterprises are currently confined to distribution solely within the domestic market. If domestically produce plastics were permitted to export to foreign markets via a CMP system, it would reportedly increase the amount of tax revenue for the state.

“Foreign investors which enter into Myanmar primarily export their domestically produce products back to their countries of origin in lieu of trading them within the country. Local entrepreneurs should be issued with CPM licenses in a bid to open the doors to foreign markets,” said U Thein Han, vice president of MPIA.

A meager handful of CMP licenses have reportedly been issued to some plastic entrepreneurs already. It would be much more convenient for us involved in the plastics industry to work in accordance with a CMP system,” said Dr Maung Maung Lay, a local plastic entrepreneur.

Myanmar annually exports around 3,000 tons of plastic to foreign countries, in particular Japan, Sweden and other European countries, it is reported.


Source: Myitmakha Media News Agency




NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Puma Energy", “MOGE”, “yangon new town”,"MECTEL", "hydropower", etc.