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All sewn up? Vietnam garment makers face hitches in lucrative EU trade deal

HO CHI MINH CITY—For Tran Nhu Tung, Vietnam’s newly signed free trade deal with the European Union presents both huge opportunity, and a logistical headache. The vice chairman of Thanh Cong Textile Garment Investment Trading (TCM) in Ho Chi Minh City is planning a rapid expansion in anticipation of the influx of orders the tariff-slashing […]

FMI terminates investment in Yeni Industrial Town Project

First Myanmar Investment Company (FMI) yesterday announced the termination of its agreement to invest in Asia Golden Glory Development Co, the company involved in developing the Yeni Industrial Town Project. In an announcement filed with the Yangon Stock Exchange, FMI said it had terminated a 2017 agreement for it to acquire a 30 percent stake […]

SMEs need more funding, support system to expand further

Efforts to support small and medium enterprises (SMEs) over the past three years have so far not been sufficient to generate meaningful growth for the economy, experts said. While a higher volume of loans were dished out by state-owned and local banks, only a few SMEs have successfully expanded their operations in the past three […]

Irish building up a head of steam in Myanmar

When Kieran Rabbitt stepped off a plane and into the heavy Yangon heat four years ago, little did he think he’d still be in Myanmar today, at the cutting edge of the country’s digital revolution. From offices in downtown Yangon, the Athenry native – along with Karim Ainsworth from Belfast – runs Cube Digital. The […]

More FDI essential for substantial increase in garment exports

The study called for an expansion of training in the garments sector to tackle shortages of high-level skill as well as complementary reforms in finance and trade policy. The briefing paper Foreign direct investment and economic transformation in Myanmar, written by Stephen Gelb, was published in June 2017 by Supporting Economic Transformation (SET). Funded by […]

Garment Exports Double Spurred by Rising Orders From Europe

​​ Myanmar garment exports have doubled in 2016 compared to export values of the previous year, according to the Ministry of Commerce. Rising orders from European countries have caused the surge in garment exports, said U Win Myint, Director of Ministry of Commerce. As of December 15th, garment exports reached $1.05 billion, up from $460 […]

U Yan Win: After parliament, back to business

The National League for Democracy is the people’s choice, he said at his office in Yangon yesterday. “We have to follow the people’s desire.” Nevertheless, the owner of A1 Group of Companies will have plenty to keep him occupied – with the NLD in power he believes his business prospects are likely to improve. “Our […]

Myanmar adds new factory per week as textile sector booms

The international textile sector has discovered Myanmar. Low wages, plentiful labour and an image problem in neighbouring Bangladesh after the 2013 Rana Plaza building collapse have all boosted the emerging country’s chances. Yangon- Green collars piled to one side, white polo shirts to the other – the young woman handles them with practised ease, creating […]

Exports to the U.S. top US$11 million this year

Myanmar has exported more than US$ 11 million worth of products, mainly in garments and fishery, to the United States this fiscal year, according to government statistics. The figures show a sizeable increase from US$ 2.81 million earned in exports to the U.S in the same period last year. The United States lifted economic sanction […]