According to the Myanmar newspaper “Golden Phoenix”, the Myanmar Investment Commission reported that with the continuous development of Myanmar’s textile industry, the industry is becoming one of the key investment areas that foreign investors are optimistic about, and it is expected that there will be a large influx of foreign investment in the next few years. .
It is reported that due to the abundant labor in Myanmar and the low labor wages, a large number of international textile industries have been attracted to enter the Myanmar market. Among them, Asian countries invest the most. In this regard, industry insiders estimate that European countries will enter the Myanmar textile market in large numbers in the near future. For example, Norway, which is preparing to invest in Myanmar, will invest more than 10 million US dollars in Myanmar’s textile field.
According to statistics from the Myanmar Investment and Company Bureau, foreign investment in Myanmar has reached US$4 billion from April to November of this fiscal year (2014-2015 fiscal year), and it is estimated that it will exceed the target of US$5 billion by the end of this fiscal year. , and is expected to reach US$7 billion in the 2015-2016 fiscal year.
