In order to allow textile enterprises to concentrate production, Myanmar will build a new large-scale textile industrial zone

According to a report by Myanmar’s “Golden Phoenix News” on August 8: It was learned from the Myanmar Textile Industry Association that in order to concentrate the production of textile factories across the country in one place, Myanmar will build a new large-scale textile industrial zone. According to the plan, the textile industrial zone will introduce foreign investment, import needed raw materials and equipment from abroad, and build an international textile laboratory. It is reported that the Myanmar Textile Industry Association is composed of 380 companies, of which nearly 300 companies export textile products abroad. In the 2015/16 fiscal year, textile exports earned US$1.6 billion, and it is expected to reach US$2 billion this fiscal year. Association data also shows that as of June 2016, there were 400 textile factories in Myanmar. In order to allow textile enterprises to concentrate production, Myanmar will build a new large-scale textile industrial zone