HK, South Korea eye clothing factories
Companies from Hong Kong and South Korea have submitted proposals to establish garment factories and whole industrial zones to the Myanmar Investment Commission. Now the MIC was discussing potential locations with regional governments, said committee secretary Aung Naing Oo.
“It is still at the discussion stage. They will enter the country when we are ready. Currently, we are making sure that we can give land to them for factories. They will set up their factories at the places where the government specifies. They are most likely to get land for their factories in Yangon and Bago where there are jetties,” he added.
The MIC said it hoped the factories would create job opportunities.
“We plan to establish industrial zones for garment factories. We have already received some proposals. Foreign companies are making preparations. It will happen after the discussions between the MIC and regional governments on locations,” he continued.
Myanmar had 400 clothing factories and more than 350,000 workers, according to the Myanmar Garment Entrepreneurs Association.
The February list said there were 171 foreign-owned factories, 196 privately owned establishments and 22 joint-ventures.