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Myanmar permits 16 garment units to operate CMP system
19
Jun '13
The Government of Myanmar has allowed sixteen garment units to operate the Cutting, Making and Packing (CMP) system in the January to May period of 2013, according to the Directorate of Investment and Companies Administration (DICA).
 
The sixteen firms which were granted the permission to use the CMP system will collaborate with various national and international textile entrepreneurs and investors, according to an Eleven Myanmar report.
 
The Generalized System of Preferences (GSP) of the European Union, which was reinstated last year, to allow tax-free imports from Myanmar, is benefiting the garment industry of the country.
 
The tax advantages gained from GSP have attracted investments in the garment industry of Myanmar from South Korea, Japan and Thailand.
 
Myanmar’s garment exports have doubled during the first three months of the current year, according to Myanmar Garment Manufacturers’ Association (MGMA).

Fibre2fashion News Desk - India

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