Home / Knowledge / News / Apparel/Garments / FDI in garment sector creates 20,000 new jobs in Myanmar
FDI in garment sector creates 20,000 new jobs in Myanmar
12
Sep '13
The increase in Foreign Direct Investment (FDI), especially in the garment sector, has created around 20,000 new jobs in Myanmar (previously Burma), according to Government data.
 
During the first five months of the fiscal year 2013-14, the FDI reached US$ 1.8 billion, and was mostly focused in the garment manufacturing sector, reports Democratic Voice of Burma.
 
Aung Naing Oo, the director-general of the Directorate of Investment and Company Administration (DICA), said the majority of investments came from East Asian countries such as South Korea, Japan and China.
 
Every single garment factory that opens in the country creates an additional 1,000 jobs, he added.
 
Mr. Naing Oo added that during April-August period of the current fiscal year, 20 garment factories have so far been approved, resulting in creation of about 20,000 additional jobs.
 
A quicker process now exists for setting up a garment factory, which enables it to become operational within six months after acquiring the relevant permits, he added.
 
According to Mr. Oo, this fiscal year DICA is expecting around US$ 3 billion of FDI in the country
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X