Textile and garment show touts Myanmar’s investment potential

Fair-goers observe garment machinery at the third Myanmar Textile &  Garment Industry Exhibition held in last year’s November in Yangon.
Fair-goers observe garment machinery at the third Myanmar Textile & Garment Industry Exhibition held in last year’s November in Yangon.

The fourth Myanmar International Textile and Garment Industry Exhibition will take place 26-29 June at Myanmar Event Park in Yangon.
Hong Kong-based Yorkers Trade & Marketing Services Co., Ltd will organize the international fair with the support of the Myanmar Garment Manufacturers Association and the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry.
The event will showcase products and technology from 98 exhibitors and 16 countries and promote information exchange between manufacturers, buyers, traders and distributors in the country’s garment sector, the organizer said in its press release.
As one of the world’s fastest growing markets, while situated between the world’s most populous states—China and India—Myanmar has tremendous potential for investors, it said.
The country tripled its foreign direct investment between 2010 and 2014, and has lower workforce costs than neighbouring manufacturing powerhouse Thailand, indicating Myanmar is an attractive business spot for regional and global manufacturers, it said.
According to FDI statistics, the Myanmar Investment Commission this month granted five foreign companies permits to establish clothing manufacturing businesses in the country.
Regarding the exhibition, a press conference is scheduled for Wednesday afternoon on the 4th floor of the UMFCCI Building in Yangon, Daw Myo Kyi Phyu Tun, an information officer of the event, told The Global New Light of Myanmar.

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