By Nyein Nyein
CMP garment factories have requested Myanmar Investment Commission (MIC) to manufacture more PPE (Personal Protective Equipment) suits and facemasks, which are the basic health and safety requirements during the pandemic, said MIC Secretary U Thant Sin Lwin. At present, five CMP companies have submitted a proposal to produce PEEs and masks for short term and long term, he added. MIC permitted to manufacture more PPE suits and facemasks after one CMP garments factory requested at MIC meeting 9/2020 held on 10 July.
This permitted CMP garment factory is TV Apparel company in Shwepyitha township and it has increased its investment to manufacture PPEs and facemasks for a five-year short-term project. “Regarding manufacturing of more masks, our MIC has replied to TV apparel garment company with their submitting of the proposal. The company will run for a short-term period, which will be only five years. This is the reason why we have granted permission rapidly. That company has created jobs for the local people. There are also five similar companies including four companies making short term and one long term investment. We expected that MIC will grant the permit to three or four companies in the next MIC meeting 10/2020. At present, they are doing businesses and they want to get approval from MIC because they will import the raw materials from abroad and they want the authorities to exempt their imported goods from taxation,” he further said. MIC asked the garment entrepreneurs to extensively manufacture PPEs and facemasks from the CMP garment factories as these are necessary for our country. “Our MIC has requested the garment entrepreneurs and they contacted us to explain their plan and that they will import raw materials and machines. Then, we will run their businesses with their people. There is an increase in investment volume,” he stressed. Although Myanmar economy is severely impacted by coronavirus pandemic, the volume of investment is growing in not only foreign investment but also domestic investment. The existing investment enterprises have also increased investment amount and labour, according to MIC.
(Translated by Hay Mar)