Views:4 Author:Site Editor Publish Time: 2020-02-28 Origin:Site
Myanmar is drafting a national textile policy for the development of domestic textile sector, according to the ministry of planning, finance and industry. The drafting process was initiated in January 2018 and the first stakeholder meeting was held in January last year involving relevant ministries, private organisations and textile businesses.
The policy is being drafted with the help of German government’s development organisation GIZ.
It will include action plans, road maps, laws, rules and procedures, infrastructural development, creation of a business environment that encourages local and foreign investment, manufacturing of value-added products, socio-economic development, technological acquirement, market competition, easy external trade and strengthened economic cooperation, according to a report in a Myanmarese newspaper.
Myanmar is also implementing a National Export Strategy (NES), under which there will be measures like transition of cut-make-pack (CMP) garment system into free on-board (FOB) system, adoption of bonded warehouse system and establishment of specialised textile and garment zone for boosting export.