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China's Shuangfei Garment Factory to invest in Myanmar

19
Jan '21
Pic: Shutterstock
Pic: Shutterstock
China’s Shuangfei Garment Factory will invest $1.42 million for making underwear at Myanmar’s Hlaing Tharyar Industrial Zone, according to the Yangon Region Investment Committee (YRIC). The proposal was approved at a meeting of the committee in accordance with the Myanmar Investment Law. The project will generate 889 employment opportunities, the committee said.

During the pandemic, the Yangon region has been working hard to ensure investment from local and abroad. YRIC approved six investments from China and Taiwan in the industrial sector. The businesses approved at the meeting are manufacturing of LED and lighting accessories, bags and garments.

The total investment amounts to $15.727 million and is expected create 3,876 job opportunities, according to a report in a English-language daily in the country.

Fibre2Fashion News Desk (DS)


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