Over Ks56m paid to 180 employees after Taiwanese employer absconded

Workers of the Unipolar garment factory at Shwe Linpan Industrial Zone in Hlaing Tharyar received their months salary and compensation yesterday. Over Ks56m was paid out to the 180 employees from the Factories & General Labor Law Inspection Department under the Ministry of Labor, Immigration and Population. The factory, which was opened two years ago, […]

Mandalay factories forced to close

Lacking modern technology and competing with industrial zones in neighbouring countries that churn out ever-cheaper products, many factories in Mandalay have been forced to close their doors. Over the past year, around 20 percent of factories in Mandalay Industrial Zone 1 and 2 have shut up shop, according to a spokesperson for the Mandalay Industrial […]

Yangon’s struggling industrial zones need support: interview

Yangon’s industrial zones have been left largely to fend for themselves while the government focuses instead on trophy projects such as a new special economic zone at Thilawa, says U Myat Thin Aung, chair of Hlaing Tharyar industrial zone. Almost all the infrastructure that keeps factories functioning, including electricity, roads and sewers, is provided by […]

South Korean giant plans massive factories

The TAEKWANG and Huchems Company Group, the biggest corporation from South Korea, says it is planning investment of US$600 million to construct factories on 173 acres of land to produce business and consumer products in Thilawa special economic zone. The company says it will create 500 jobs for locals. The construction of the factories will […]

Manufacturers migrating en masse to Myanmar

Myanmar has been attracting a great deal of attention these days from Korean manufacturers seeking to build plants abroad. The Southeast Asian nation, which was once isolated from the rest of the world under its decades-long military dictatorship, has recently opened its doors to the outside world. The country has an ample supply of cheap […]

Thilawa attracting foreign firms as tenants

Thilawa has attracted formal interest from dozens of companies, but competitors say local firms are reluctant to commit to the long-term leases required by the special economic zone. Myanmar Japan Thilawa Development Company (MJTD) has received letters of intent from 60 foreign companies to participate in the zone and reached formal agreements with about 15, […]

Prospect for manufacturing in Myanmar

YANGON — As chairman of the Hlaing Tharyar Industrial Zone, U Myat Thin Aung understands the challenges facing Myanmar’s manufacturing sector. Despite concerns about whether local manufacturers will be able to compete when the country becomes part of the Asean Free Trade Area next year, however, Hlaing Tharyar—Yangon’s largest industrial zone, with nearly 600 factories […]

Green Factories to Get Priority for Industrial Zones

Cost-effective and low-pollution factories will be given priority while awarding licences for operations at new industrial zones to be developed in Myanmar in the future, a top government official said. Eligible factories include those that achieve energy efficiency or do not release too much waste, Vice President U Nyan Tun said at a coordination meeting […]

Thilawa SEZ shares oversubscribed

The initial public offering of Thilawa Special Economic Zone has seen more than double the IPO subscriptions than 2.145 million shares available, said a company spokesperson at the April 25 press conference in Yangon. The company recently arranged the IPO to raise US$ 21 million to fund the first phase of Thilawa SEZ, a sprawling […]

UMFCCI urges Chinese businesses to start factories

The joint secretary of the Union of Myanmar Federation of Chambers of Commerce and Industries (UMFCCI), has urged Chinese investors not only to buy raw materials from Myanmar but also to set up factories. Aye Lwin was speaking at a business meeting between Myanmar and Chinese entrepreneurs on December 16, co-organised by the UMFCCI and […]