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Garments sector poised to boom in Pathein

The garment industry seems poised to boom in Ayeyarwady Region, with a company developing an industrial park near Pathein signing a contract with a Chinese firm that plans to build 50 garment factories within two years. The new factories would dramatically expand the town’s nascent manufacturing sector, which has for several years been attracting interest […]

EU’s threat to scrap trade preferences spurs Myanmar’s reforms

Economic reform is getting a second wind in Myanmar as the government tries to lure back foreign investors scared away by reports of human rights abuses against the country’s Rohingya Muslim minority. The government has announced the easing of restrictions on foreign banks and the creation of a new ministry to oversee foreign investment in […]

Manufacturing key to Myanmar’s growth

Myanmar has been transitioning to a more open and market-oriented economy over the past few years. While progress has been made throughout the economy, manufacturing has witnessed rapid expansion, accounting for 15 percent of GDP in 2007 but growing to 24pc in 2017. Garment manufacturing, in particular, has grown rapidly, with exports expected to surpass […]

Rakhine and wage issues weigh on Myanmar Garment Industry

  Rakhine and wage issues weigh on Myanmar Myanmar’s garment exports may be thriving, but the on-going issue in the Rakhine State and rising wages are the latest shadows on the horizon. The garment sector is a jewel in newly-democratic Myanmar’s export crown; now the second largest revenue earner after natural gas. Yet all too often […]

Myanmar urged to do more to attract Korean investment

MYANMAR needs to pick up the pace of economic reforms in order to attract more investment from South Korea, said a senior trade official who led a market research mission to Myanmar. Lee Hyuk, secretary general of the Asean-Korea Centre, said in an interview that Myanmar must urgently create a better investment climate to succeed […]

Can you privatize development aid? Germany is trying, in Myanmar

Germany’s development ministry wants more private businesses to get involved in international projects. A visit with one such project in Myanmar highlights the opportunities — and the pitfalls. The richest and most famous people in Mandalay are all here. They’re meeting on the top floor of a decrepit shopping center: the gold mine owner, the […]

The Chicken & Egg problem – raise Minimum Wage first or Productivity?

  The decision by the National Committee for Designating Minimum Wage on January 2nd to increase the minimum wage has left many in the garment industry dissatisfied. Union officials believed that the new minimum wage of K4800 was not enough to cover the increasingly high cost of living, especially in the cities. Instead, they advocated […]

New basic wage may take effect in April

The National Minimum Wage Council has sought the approval of the president for the new minimum wage of K4800 (US$3.60) per day to be enforced starting in April, a member of the committee told The Myanmar Times. “All the committee members, including the committee chair union minister, has proposed the wage to come into force […]

Myanmar to raise minimum wage by 33%

YANGON — Myanmar will raise its minimum wage by one-third to 4,800 kyat ($3.63) per day, a move that will affect the country’s labor-intensive exporting industries like garment manufacturing and food processing. A panel of representatives from the government, labor and management proposed the wage hike in early January. During the 60-day public debate period, […]

Minimum wage set at Ks4,800 per day

The National Committee on Minimum Wage announced yesterday that Ks4,800 per day, at the rate of Ks600 per hour, has been established as the minimum wage. The official announcement signed by Union Minister for Labour, Immigration and Population U Thein Swe came yesterday following a meeting of the committee on 29 December. The new minimum […]