Textile industry park in Mandalay with JICA assistance

May 26, 2019 - Myanmar

A textile industry park will be set up in Mandalay city with assistance from the Japan International Cooperation Agency (JICA), U Zaw Myint Maung, chief minister of the Mandalay region, told an EU-sponsored forum on the business climate in northern Myanmar recently. The statement follows proposals by the business community for such a park that can employ 50,000.

The forum discussed rules and policies that are obstacles to doing business in Myanmar. The chief minister said Mandalay welcomes investments, especially in agriculture and the garment industry, among others, according to a Myanmarese newspaper report.

Mandalay city has $3.7 billion in foreign investments. Although Chinese investments dominate, there are also investments from European nations, which are trying to turn a parallel driver of the country’s economy, Maung said.

Kristian Schmidt, the European Union’s (EU) ambassador to Myanmar, said EU businessmen see a lot of opportunities in Mandalay.

Meanwhile, the first meeting of senior officials from EU and Myanmar took place in Brussels on May 16. (DS)