Firms to invest $24 mn in garment, bag making in Yangon

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Companies from Myanmar, Hong Kong, China, Estonia and Taiwan will invest nearly $24 million in businesses in industrial zones in the Yangon region, including the Thilawa Special Economic Zone (SEZ), to manufacture garments and bags, according to the Yangon Region Investment Committee. The latest investment approved by the committee is likely to create 8,920 jobs.

Follow below are some of the prominent companies and their investment details, as per a report in a Myanmarese newspaper:

(1) Fineline Company Limited (Hong Kong), $2.087 million in bag making in the Thilawa SEZ
(2) Genesis Myanmar Garment Co Ltd, $4.285 million in bag making in the East Dagon Industrial Zone
(3) South Frame Myanmar Limited, (Estonia), $0.852 million in making photo frames
(4) Myanmar Journey Bags Co Ltd (Hong Kong), $1.622 million in bag making in the Wataya Industrial Zone
(5) Kai Sheng (Myanmar) Industrial of Taiwan, $0.911 million in

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