The five companies are Myanmar Sumec Win Win Garment Co Ltd, Gainway International (Myanmar) Garment Co Ltd, Saung Oo Shwe Nay (Golden Sunshine) Co Ltd, Sanyuan (Myanmar) Apparel Manufacturing Co. Ltd and CM Garment Industrial Ltd, according to Myanmar media reports. Of this, only CM Garment Industrial is a locally owned company.
The new garment factories, which will come up in industrial zones in Hlaingtharya, Shwepyitha and Hmawbi townships in Yangon, are expected to create nearly 6,000 jobs.
Earlier this month, Myanmar's minister for industry Khin Maung Cho said the government is planning to set up an exclusive textile and garment zone, which will be equipped to produce raw materials, machines and finished products in a single place.
The Myanmar clothing industry employs around 350,000 people, who together work at nearly 400 apparel facilities, most of which work under CMP model, across the country. (RKS)
Fibre2Fashion News Desk – India