Myanmar garment sector gets €2.8 mn EU boost

Small and medium enterprises in Myanmar’s garment sector are set to get a 2.8 million euros boost from the European Union. The cash infusion will support the second phase of a development initiative that aims to make the “Made in Myanmar” industry more competitive by building environmental awareness, sustainability and social protections for the workers. […]

Companies begin to feel the heat as import costs climb

Myanmar’s plummeting currency has prompted a vicious circle of rising prices in the import-dependent economy, in which even export-driven companies face rising costs, say businesspeople. New laws and regulations are urgently needed to control the kyat, they said, which has fallen by more than 25 percent to the US dollar this year to K1300 yesterday, […]

Myanmar approves first-ever national minimum wage

  YANGON: Myanmar’s government has approved the country’s first-ever national minimum wage, state media reported on Saturday (Aug 29), after months of bitter negotiations with labour groups and employers. The wage has been set at 3,600 kyat (US$2.80) “for a standard eight-hour work day” and takes effect from Tuesday, said the state-run Global New Light […]

Myanmar: Following Bangladesh’s blueprint in garment sector

Myanmar has set out an ambitious plan to emulate Bangladesh’s runaway success in the garment sector, as it looks to become one of the major apparel suppliers itself, said a minister of the Southeast Asian nation. “In our country, the garment industry is booming. We hope we will be a hub for sourcing garment items,” […]

Myanmar’s garment sector can grow with strategic planning

The garment industry in Myanmar has great potential for growth in the next 10 years, if it works towards development with strategic planning, according to the members of the Myanmar Garment Manufacturers Association (MGMA), Myanmar Times reported. The garment sector needs to draw appropriate plans to obtain higher quantity and stable orders with higher profits. […]

Garment sector to hit $1.5b revenue mark

Revenues in the garment sector are expected to grow by as much as 50 percent for the 2013-14 fiscal year and reach US$1.5 billion, experts said. Daw Khaing Khaing Nwe, secretary of the Myanmar Garment Manufacturers’ Association, told The Myanmar Times that the sector has continued to benefit from relaxed trade rules from abroad, while […]

Burma seeks minimum wage amidst labour shortage

As foreign investors in the garment sector trickle into Myanmar/Burma, local research companies and the International Labour Organization (ILO) are undertaking a study that could prompt the country’s parliament to pass a minimum wage law by December this year. The study, for which one local participant is the Myanmar Marketing and Research Development Co (MMRD), […]