About sixteen garment companies were permitted by the Myanmar government to operate the Cutting, Making and Packing (CMP) system in the January to May period of 2013, Eleven Media news reported.
According to the Directorate of Investment and Companies Administration (DICA), the sixteen firms will work together with various textile entrepreneurs and investors in the national and international scene.
The garment trade and industry of the country is benefiting from the Generalized System of Preferences (GSP) of the European Union which was reinstated last year that is allowing tax-free imports from Myanmar.
Because of this tax benefits, investors were engrossed to invest in Myanmar’s garment sector just like Japan, Thailand and South Korea.
According to Myanmar Garment Manufacturers’ Association (MGMA), the garment exports have doubled during the first three months of the current year, the report said.
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