Panko Corporation to ramp up investment in Myanmar’s apparel manufacturing sector

Panko Corporation from the Republic of Korea will expand its investment in the manufacturing of cotton, woven garments and fabric painting, beyond apparel manufacturing, according to the Union of Myanmar Federation of Chambers of Commerce and Industry.
The businesspersons from Panko Corporation met with UMFCCI’s President U Aye Win and officials concerned at the UMFCCI office on 22 September.
U Aye Win expressed his appreciation for capital expansion in the meeting. He highlighted that the federation will negotiate with the entrepreneurs to facilitate investment matters. As the State is committed to boosting manufacturing, he was delighted to know about the capital increase in labour-intensive businesses such as garment enterprises. He believe this business will bring about benefits for the country. It will also help strengthen friendship ties between the two nations besides business interests.
Panko Corporation set up a garment factory in Bago in 2019, creating jobs for locals.
Mr Youngjoo Choi, chairman of Panko Corporation elaborated on investments that they will execute manufacturing of cotton, woven garments and fabric paint businesses in Myanmar. They vow to promote industrial development in the country through those projects. Korean experts who will come to Myanmar have acquired skills in cotton manufacturing. They will collaborate with the UMFCCI to enhance the manufacturing businesses as well. — NN/EM