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Hong Kong and China to invest in Myanmar’s garment industry

Date: 13/08/2013
Source: Eleven
Hong Kong and China to invest in Myanmar’s garment industry

Hong Kong and China will operate garment enterprises under Cutting, Making and Packing –CMP system at industrial zones in Yangon, the commercial hub of Myanmar, according to the Directorate of Investment and Companies Administration-DICA.

China-based Shanghai Donglong Feather Manufacture Company has cooperated with Dong Long (Myanmar) Garment company to carry out garment enterprises at Hlaingthayar Industrial Zone-4, Jiangsu Solamoda Garments Group at Shwe Than Lwin Industrial Zone in Hlaingthayar Township, and Hong Kong-based Kamtex Limited forming a joint venture with Myanamr Sein Pann Garment Manufacturing Company at Industrial Zone-1 in Dagon Myothit (South) respectively.

Moreover, China-based Dong Fang Star Garment Factory will cooperate with Nexstar Garment Manufacturing Company at Hlaingthayar Industrial Zone-1 and Hong Kong based AMG Factory and Archid Garment Factory Limited at Shwe Lin Pan Industrial.

“International companies are eyeing Myanmar’s market due to business reform. The US and EU countries have already demanded our garment and they are penetrating to garment enterprises with full investments at industrial zones,’’ said a businessman from Hlaingthayar industrial zone.

Japan and Korea are also high demand in local garment industry and the garment’s orders from European and the US are increased due to EU’s Generalized System of Preferences-GSP system, according to Garment entrepreneurs’ reports.

Topic: Investments
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