Garment industry in
Myanmar will benefit from the generalised system of preferences (GSP) of
the European Union starting from 2013, according to the Myanmar Garment
Association.
The tax advantages gained from GSP are attracting more investments from South Korea, Japan and Thailand.
“Investors from South Korea are coming
to see us daily to sound out the investment opportunities. There are
also Japanese and Thai investors visiting us. Those potential investors
are interested in tax advantages from GSP,” Khine Khine Nwe, secretary
of the garment association, said.
The association is optimistic about an
upward trend of Myanmar garment industry by the inception time of the
GSP system, despite the recent declining demand for garment export from
the country.
“Most of garment export from Myanmar is
bound to Japan and South Korea. However, the 2011 earthquake in Japan
caused a decline in our export to Japan,” Khine Khine Nwe added.
She also said that some drawbacks still
exist such as weak infrastructures and the fact that the number of
orders placed to the factories is still small.
source: Eleven Myanmar
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