YRIC endorses 4 foreign manufacturing projects on CMP basis with 2,369 jobs

cmp sskm
A garment factory running on a Cutting, Making, and Packing (CMP) basis is seen in Yangon Region.

The Yangon Region Investment Committee (YRIC) endorsed four foreign enterprises in the manufacturing sector at the meeting held on 25 August, with an estimated capital of US$5.143 million. Those enterprises will create 2,369 jobs for residents.
They will execute the production of HDPE, PP woven and non-woven bags and sacks, production and selling of clothes, fabric and garments, and production and selling of plastic bags on a Cutting Making and Packing (CMP) basis.
In the first half of 2022 (Jan-June), foreign direct investments of over $159 million were given the go-ahead to invest in the country.  The FDIs stood at over $41 million from China, over $59 million from Hong Kong, over $21 million from Singapore, over $17 million from the Republic of Korea, over $6 million from Japan, and over $7 million from Chinese Taipei and over $5 million from Indonesia. Only the Asian countries have pumped foreign investments into the country so far, according to the statistics released by the Directorate of Investment and Company Administration. — TWA/GNLM

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