YANGON, Oct. 27 (Xinhua) -- Myanmar's largest Chinese-invested garment company launched a new factory in Yangon on Friday.
Myanmar SUMEC Win Win Garments Co., Ltd, Myanmar's largest exporter in garment sector, and a branch of SUMEC Textile and Light Industry Co., officially started operating a new factory in Shwe Pyi Thar Industrial Zone in Yangon.
Speaking at the opening ceremony, U Aung Htoo, Deputy Minister for Commerce, expressed his congratulations to the company.
He said that preferential policies and a vast labor market give Myanmar a great advantage for textile and garment industry and that the new factory will not only create more jobs, promote the garment industry, but also contribute to the country's economic growth.
Chinese Ambassador Hong Liang said that with Myanmar economy becoming more opening up, more Chinese enterprises are investing in Myanmar.
The new factory, with 40 production lines currently, is designed to own 50 production lines with the capacity to produce 4 million pieces of clothes every year, upgrading the company's yearly capacity to 10 million pieces of clothes in Myanmar, lifting its export to 100 million U.S. dollars.