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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 […]

Garment factories shutter on rising wages, land leases

A total of 14 factories in Yangon’s industrial zones may cease operations within the next two months due to the rising cost of land and employees. Most of the factories are run by garment manufacturers. The shuttering of the factories could leave over 3000 jobless, said Daw Sandar Min, regional representative in Yangon and chair […]