Myanmar to develop specialized textile and garment zone | Trade News Myanmar
Home » News » Trade News » Myanmar To Develop Specialized Textile And Garment Zone

Myanmar to develop specialized textile and garment zone

Share: 
      Newsletter

READ MORE ON Garment ManufacturingMyanmar Garment IndustryTrade News Myanmar

Garment Factory Myanmar

Image Courtesy: globalnewlightofmyanmar.com

Myanmar Government has decided to develop a specialized textile and garment zone in the country with an aim to attract investment from both local and foreign players. A joint assessment by the Ministry of Industry and a Japanese company is underway to set up the zone at 127 acres land of garment factory in Shwe Taung.

It will also be helpful in generating job and play significant role in the growth country’s economy. Myanmar Investment Commission (MIC), a Government-appointed body under the Ministry of Planning and Finance that appraises domestic investment proposals in Myanmar, has recommended several fiscal incentives for companies interested in starting projects in Sittwe, to encourage investment in a less developed region.

The proposed incentives include an income tax exemption for seven years and exemption on customs duties and local taxes, on import of raw materials and partially manufactured goods. The relaxation of duties and taxes would be for those companies, which import raw materials to export finished goods.

Also ReadMyanmar garment factory up for auction to pay off workers

Over 300,000 people are employed with over 400 apparel manufacturing units in Myanmar. Japan is the largest importer of apparels manufactured in Myanmar, accounting for 33 per cent of all clothing exports. In addition, Myanmar also exports to South Korea, Germany, China and American markets.

 

Have some news? Let us know on news@apparelresources.com

Recommended by Apparel Resources

Bangladesh aims to enhance trade ties with Hong Kong

With an aim to expand its business to Chinese mainland, Bangladesh wants to develop strong trade links with Hong Kong which is presenting...

Cambodian employers look for delay in Garment Pay Reform’s execution

Industry representatives have strongly asserted that the decision to pay garment workers twice a month will be difficult for employers to implement immediately....

Cambodian Commerce Minister for high-value-added investment in RMG sector

Cambodian Minister of Commerce, H.E. Pan Sorasak, has requested International Labour Organisation (ILO) to encourage high-value-added investment in the garment sector and boost...

Explosion at Chinese garment factory in Cambodia claims one life

One person died and several others sustained injuries in an explosion at a China-owned garment factory located in Sen Sok district’s Phnom Penh...

Myanmar earns over US $ 1.6 billion from CMP garment exports

Myanmar has noted an increase of almost one billion in its earning from cutting, making and packaging (CMP) garment exports. This fiscal year...

Fire engulfs denim fabric manufacturing factory in Ghaziabad, India

Fabric and other raw material worth lakhs of rupees gutted in fire broke out in a garment factory identified as Ajanta in Site...

Bangladesh garment workers call for union registration

Workers at the Orchid Sweater factory in Bangladesh have urged for solidarity support as their attempts to secure formal union registration have been...

Bangladesh to take duty-free access to US via Kenya

Principal Secretary of Kenyan Industry, Trade and Cooperatives Ministry Julius Korir mad a visit to Dhaka, Bangladesh earlier this month. During his visit,...

IndustriALL trains Philippines T&C workers in negotiation skills

Workers from textile and garment factories and allied sectors affiliated with IndustriALL Global Union participated in a Collective Bargaining and Negotiation Training Course...

Workers at Cambodia garment factory faint in large numbers

58 workers of Tien Sung Garment Company in Phnom Penh’s Por Senchey district collapsed on Monday, 20 March, due to extremely poor air...