YANGON (Eleven Media Group/ANN): The Covid-19 pandemic is giving nightmares to the Myanmar garment industry.
In Myanmar's garment industry which operates with more than 700 garment factories, over 100 stopped their operations during the Covid-19 pandemic, and the revenue has decreased by about 40 %, according to a survey.
"The country’s garment industry has been affected by the Covid-19 epidemic again. Among around 700 garment factories more than 50 closed down in the first wave and over 50 others in the second wave.
"Research papers show that their income has decreased by 40 per cent. During the Covid-19 period, it was found that the raw materials necessary for the survival of the garment industry were supplied by China," Deputy Minister for Commerce U Min Min said.
China is mainly supplying the necessary inputs for the development of Myanmar's garment industry.
"In a country like Myanmar, the garment industry is not only partly helpful for the economy, including investment but also an important sector for creating job opportunities. In my opinion, because it can create employment opportunities, I see that it can also benefit the first goal of sustainable development, which is poverty reduction," said the deputy minister.
He added that efforts must be made to boost Myanmar’s textile production through exhibitions and by improving quality and standards for the garment sector development, increasing investment, strengthening domestic and foreign supply chains, forming sustainable trade alliances, and prioritizing transformation. - Eleven Media Group/ANN