Business groups speak out against potential withdrawal of EU GSP

Three major domestic business organisations have urged Brussel’s visiting mission not to revoke Myanmar’s access to the Generalised Scheme of Preferences (GSP). Meanwhile, The Myanmar Times understands that a statement co-signed by six European business groups has been addressed to the monitoring mission, arguing that withdrawing GSP “will undoubtedly have a detrimental impact on the […]

Five sectors driving Myanmar’s economic growth in 2018-19

Myanmar’s economy has taken a beating in recent quarters, with a rising number of companies reporting tougher business conditions and a slowdown in market demand. One of the main reasons is the rising foreign exchange rate. Despite a slew of measures taken by the Central Bank, which included pumping millions of dollars from its reserves […]

Textiles a key focus of trade push between Myanmar and Taiwan

SEEKING to build on the rapid growth in trade between Taiwan and Myanmar, industry bodies from the two sides have signed two memorandums of understanding at a Taiwan-Myanmar Industrial Collaboration Summit. Myo Thet, vice president of the Union of Myanmar Federation of Commerce and Industry (UMFCCI), said the agreements would help boost bilateral economic ties, […]

Researchers study impact of Myanmar minimum wage rise

As part of an ongoing programme to improve labour conditions in the garment industry, a European multi stakeholder initiative has started a research project on living wages in Myanmar. The Southeast Asian nation’s legal minimum wage increased from MMK 3600 to MMk 4,800(US$3.5) per day in May, and now Fair Wear Foundation and Dutch trade […]

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, […]

Garment Industry Must Raise Value Proposition to Stay Sustainable

2017 was a strong year for the garment export sector. During the seven months between April and November, some $1.5 billion worth of garment products were shipped out of Myanmar, bound for warehouses owned by the likes of Uniqlo and Primark in Japan and Europe, according to the Ministry of Commerce (MOC). The pace of […]

Myanmar Garment Industry Stuck in 1993 Due to Lack of Resources

When entrepreneurs in the garment industry launch a business in newly industrialising countries, they often begin by adopting the cut-make-package (CMP) model, in which a garment factory is contracted to cut fabric, produce a product such as a dress, and then package it to be ready for shipment to another company. Moving beyond the CMP […]

Industry, govt hit back at garment factory report

DURING a news conference held by garment businesses on October 4, the Yangon regional government asked ActionAid Myanmar to revise its report about safety standards for women working in garment factories, calling the report inaccurate. In response to ActionAid’s report, an inspection tour of the factories mentioned in the report was made by Yangon Region […]

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 manufacturing: How to navigate Myanmar’s ethical maze

As it undergoes profound and rapid change, Myanmar is today emerging as one of Asia’s most sought-after hubs for fashion sourcing. The country’s opening-up to the global economy has come after decades of military rule, during which a long period of isolation and internal conflict was followed by an era of gradual disengagement from politics […]