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Investment Affairs: Union Minister visits MIC-permitted factories

Local
10 July 2022
23618
2022-07-10 09:08

Union Minister for Investment and Foreign Economic Relations U Aung Naing Oo visited the garment factory of the Panko Bago Co., Ltd, a foreign investment company operating with the permission of the Myanmar Investment Commission [MIC] in Bago Township of Bago Region on July 8.

During the visit, the General Director and Director of the Company discussed the possibility of expanding investment in the garment industry in the Bago Industrial Zone phase by phase.

They also explained status of the completion of the first phase with 2,500 employees, plans to complete the second phase by December 2022 and to continue the business with 5,000 employees, and also expansion of the business by completing the rest of the phases by 2024 and to employ up to 12,000 employees.

Also, they presented challenges and needs encountered in carrying out business activities. In his response, the Union Minister briefed on the plans to be supported by the Myanmar Investment Commission and the Ministry of Investment and Foreign Economic Relations for further expansion.

He also provided advice and coordination on the promotion of employment opportunities and the upgrading of workers’ skills and the welfare of the workers. On July 9, the Union Minister visited the Myanmar Pou Chen Co., Ltd’s manufacturing industry of shoes and shoe parts under the CMP system in Thardukan Industrial Zone in Shwepyitha Township of Yangon Region.

There, officials of the company explained the factory’s operation since 2015, exports of more than five million pairs of shoes every year, expansion of the factory with more than 7,000 workers, programmes for the welfare of factory workers, labour issues, difficulties encountered in importing raw materials and plans for the future.

The Union Minister discussed issues related to capacity building of individual workers and job creation, plans for further coordination on emerging issues. The Union Minister also viewed the factory’s operations and the staff food and welfare activities.

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