The US'S Policy Of Relaxing The Advantages Of Burma'S Textile Industry Will Attract Much Attention.

In the near future, as the US expects to relax the import policy of Burma products, Burma

The development prospect of the industry is concerned by the industry.

Burma government's related initiatives in recent days have made the country a new hot spot attracting overseas investment.

Burma textile

In order to further promote foreign investment, the Burma government recently introduced a number of initiatives.

In March 16th, the Burma Congress passed the amendment to the foreign investment law, and relaxed a number of restrictions on foreign investors, including 100% of the holding company, and a joint venture with the Burma government or the private sector, but with a shareholding of more than 35%, enjoying a 5 year tax exemption, allowing the lease of land to the government of Burma or the private sector for a period of 30 years, which could be extended for two more times, the longest 15 years each time, the restriction on the full export of products, the employment of foreign non skilled labour, and the Burma government's guarantee that foreign companies would not be nationalized, such as the government's acquisition.

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Burma textile

It is understood that before the US sanctions against Burma in 2003, the main export market of Burma's textile and garment industry was the United States and the European Union.

In the export market in 2000, the United States and the European Union accounted for 54.1% and 34.6% respectively, accounting for nearly 9 of Burma's clothing exports.

Since the implementation of sanctions measures in the United States, Burma's exports to the United States have dropped sharply, and the EU market has also been affected.

Instead, they are the Japanese and Korean markets.

It is expected that the US will relax the import policy of Burmese products.

Garment exports will rebound sharply.