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Yangon clothes factory blames closure on rising operating costs

A garment factory with over 400 workers has closed in Yangon due to rising operational cost, a company statement said. Seduno (Myanmar) Fashion Co Ltd in Hlaing Tharyar Industrial Zone announced on Saturday it was facing difficulty keeping the business running because of a decline in production, delays in exporting their products and a hike […]

New Industrial Zones Planned at 11 Townships in Yangon Region

The Yangon Region Government is planning to construct new industrial zones in 11 townships outside the Yangon, according to U Nay Win, representative of Pyithu Hluttaw in Thongwa township of Yangon region. U Phyo Min Thein, Chief Minister of the Yangon Region Government met representatives of parliament and the departments of relevant ministries to discuss […]

Govt Investment Director Confident in Foreign Investment Despite Rakhine Conflict

YANGON — U Aung Naing Oo, director-general of Directorate of Investment and Company Administration under the Ministry of National Planning and Finance, talked to The Irrawaddy reporter Shwe Lay about foreign investment in Myanmar and the government’s plan to promote it. How much investment has Myanmar had over the past year? Which countries are the […]

Global Brands Opt for EU-Backed Factories to Avoid Pitfalls of Controversial Garment Industry

With its clean white surfaces, regulated humidity and glowing fluorescent lights, the quality control division of Bogart Lingerie’s facility in the Hlaing Tharyar industrial zone looks more like a medical laboratory than a garment factory. Inside the Yangon factory, workers sort through bras and underwear fresh from the production lines, checking for any defects before […]

As Kyat Soars, Foreign Bulls and Burmese Bears Spar on Growth

RANGOON — The Burmese kyat has been the best-performing Asian currency against the US dollar so far this year, rising over 10 percent versus the greenback since January. While this trend has excited foreign investors, Burmese analysts remain skeptical about how well the currency’s buoyancy reflects the growth prospects of the real economy. Bloomberg News […]

Kyat Value Grows in Wake of Govt Power Transfer

RANGOON — Since Burma’s democratic handover of power on April 1, the country has seen a resurgence in the value of the kyat, observers say. Not even a week after a National League for Democracy (NLD)-led government took office, the Central Bank of Myanmar on April 7 reported an exchange rate of 1,192 kyats per […]

Rapid Migration and Lack of Cheap Housing Fuels Yangon Slum Growth

YANGON — Ei Cho Khine once had dreams of becoming a tour guide. As a student back in her village in Magwe Region in central Myanmar, she would often encounter groups of foreigners being led by tour guides while helping her parents at their Bein moke snack stall. “My dream was to be a tour […]

Services Likely to Play Key Role in New Economic Plan, Experts Say

Burma’s service sector, not manufacturing, will likely be the focus of national attention after the new government is formed in March, observers predict. The country’s economy is expected to hit a lull in the post-election period, but experts say that the incoming administration will attempt to boost the service sector to keep the national economy […]

Ayeyarwady chief minister laments lost opportunities

The outgoing Ayeyarwady Region government has laid down a good foundation for its successor, though it has not been possible so far to put into practice many of the good ideas the government had set in motion, the current chief minister said last week. Practical difficulties had prevented much progress on plans to advance development, […]

Motorcycle taxi business prospering in Yangon suburbs

Braving both the police and the thieves, motorcycle taxi drivers are thriving in the suburbs around Yangon city. Officially banned from the city streets by local ordinance, which restricts motorcycle use to government staff only, motorcycles are emerging as one answer to semi-permanent traffic congestion and the rising popularity of the outer suburbs. While the […]