Yangon - June 6
Starting next summer, clothing with “Made in Myanmar” labels will be available in world famous GAP stores. As the first retail company to enter reforming Myanmar’s market, GAP has signed contracts on June 7th with two clothing factories to manufacture Old Navy and Banana Republic clothing.
“GAP’s entry is a responsible investment and will encourage potential investors waiting to invest in the country. It will also drives local companies to invest responsibly. GAP’s products sell more than US$16 billion annually, so the company’s arrival can provide opportunities for the local workforce,” said U Myint Soe, chairman of the Myanmar Garment Manufacturers Association (MGMA).
“USAID is pleased to partner with Gap Inc., one of America’s leading corporations, to improve the economic well-being of the people of Burma. Through partnerships, such as this one today, we are working together to ensure that communities benefit from an economy reentering the international marketplace. Through this effort and other initiatives, we are encouraging responsible investment to improve the welfare of all people of this country,” said Chris Milligan, USAID/Burma Mission Director.
GAP Inc. is a leading clothing and accessories retailer in the world and has three thousand stores in 90 countries. In the 2013 budget year, the company’s net sale was US$ 16.1 billion.