Myanmar’s garment exports increase by US$1.0 billion

According to the “New Light of Myanmar” report on December 30, according to statistics from the Myanmar Ministry of Commerce, Myanmar’s garment exports reached US$1.157 billion as of mid-December, a significant increase over the same period last year. At present, Japan and European countries are the main sources of orders. Last year, a total of US$550 million worth of garments were exported to Japan, accounting for 33% of the export share, followed by South Korea and Germany, which each accounted for 25%. In addition, they were also exported to China and the United States. There are currently more than 400 garment factories in Myanmar, with more than 300,000 workers. Most of the investment projects approved by the Myanmar Investment Commission (MIC) this fiscal year are in the garment industry. The Directorate of Investment and Companies (DICA) stated that foreign investments approved by MIC this fiscal year cover fishery, animal husbandry, manufacturing, power transportation and communications, hotel tourism, real estate and other service industries. There are a total of 78 foreign investment projects and 37 local investments in Myanmar. Project approved. Myanmar’s garment exports increase by US$620 million