Myanmar’s garment industry exports are expected to reach US$100 million
According to the Myanmar edition of “World Journal” on April 19: According to the prediction of the international textile industry monitoring agency, with the lifting of economic sanctions on Myanmar by Western countries, international garment companies have strong interest in investing in Myanmar. In the next five years, Myanmar’s garment industry will It will develop rapidly. It is expected that Myanmar’s garment industry export volume will reach 12 billion US dollars in 2020, with 1.5 million related employees. According to reports, garment factories are mainly located in Yangon, creating 200,000 jobs in 2015 alone. Some economists believe that Myanmar has a long-term trade deficit, so the garment processing industry is crucial to promoting Myanmar’s economic development. Although there are still problems such as shortage of skilled workers, insufficient power supply, and high infrastructure construction costs, Myanmar’s good economic development prospects are an important factor in attracting foreign investment to continue to pour into the garment industry. Myanmar’s garment industry exports are expected to reach US$12 billion in 2020
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