The deadly Coronavirus is now affecting Myanmar’s textile and garment industry!
By March, 50 per cent of country’s garment factories may have to close down owing to massive scarcity of raw materials from China. This was reportedly stated by Myanmar’s Garment Manufacturers Association, better known as MGMA.
While briefing the reporters at the headquarters of Union of Myanmar Federation of Chambers of Commerce and Industries, MGMA said that around 90 per cent of fabrics and textiles, including accessories like zips, comes from China to be used in the garment factories all across Myanmar.
It is noteworthy that raw materials come to Myanmar from China by sea and also from border, and as of now the flow has stopped at both ends.
A lot of garment factories in Myanmar are already struggling and have, therefore, shortened the working hours to combat the concern.
More on the scarcity of raw materials, Daw Khine Khine Nwe, Secretary General, MGMA, said that without receiving raw materials, the country cannot do much and will have to be ready to face the worst.
As per the reports, the operation may stop by early next month and if the situation doesn’t improve further, it may remain closed till April end.