Home / Knowledge / News / Apparel/Garments / Myanmar & South Korea JV to set up 500-acre garment facility
Myanmar & South Korea JV to set up 500-acre garment facility
Aug '16
Myanmar based Olympus Asia Group and South Korea's Panko Corporation have entered in to an equal joint venture partnership to set up a garment factory on 500 acres of land.

“The joint venture which will be a free-on-board (FOB) garment facility is seeking land for setting up the factory in Yangon, Bago or Ayeywarwady regions,” Myanmar media reported.

Most of Myanmar's apparel units operate under the cut-make-pack (CMP) model, under which, a financially and technically sound foreign buyer, contracts out work to a garment factory.

However, under the more profitable FOB model, foreign buyers place orders with well-financed garment factories, which also have the technical expertise.

The construction to build the infrastructure will start within a year, with commercial production expected to start three years after that.

The project will include a global standard wastewater treatment plant; dormitories for workers and will also generate its own electricity.

Olympus Asia Group CEO Okkar Zaw Naing said the whole project will create between 40,000 to 60,000 direct and indirect job opportunities. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search