Myanmar manufacturing sector attracts $11 million from China in Q1 (April-June)

SEVEN Chinese enterprises brought in US$11.112 million into Myanmar’s manufacturing sector in Q1 (April-June) of the current financial year 2022-2023, as per the statistics released by the Directorate of Investment and Company Administration (DICA). Myanmar drew foreign direct investments of $21.99 million in the first quarter. All the investments pumped into the manufacturing sector only. […]

Covid-19 shuts down more than 100 garment factories

THE Covid-19 pandemic has led to the closure of some 100 CMP (Cut Make Pack) factories in Myanmar, said a representative from the Myanmar Garment Manufacturers Association. Khin Maung Oo said that the pandemic has resulted in difficulties in meeting orders and a decline in global sales, forcing these factories to either halt work temporarily […]

CMP garment exports plummet by 50 per cent in 2 months

Myanmar’s garment export has dropped by 50 percent for now on the back of a slump in demand by the European Union market, the Ministry of Commerce stated. Exports of garments manufactured under the cut-make-pack (CMP) system were valued at US$214 million in the past two months (Oct-Nov) in the current budget year 2020-2021, according […]

Myanmar Garment Factory Closes As COVID-19 Cuts Supplies

PATHEIN, Ayeyarwady Region—The coronavirus outbreak in China has forced a garment factory in Ayeyarwady Region to close suddenly, leaving all its workers jobless. A few months ago, the factory was busy and the employees complained about forced overtime on weekends and public holidays. Nearly 1,000 employees at Hua Meng Garment Factory in Kangyidaunt Township were […]

Import value of CMP raw materials hit over $600 in three months

CMP (Cut-Make-Pack) businesses have imported raw materials worth over US$600 million over the past three months in the current 2018-2019 fiscal year, exceeding nearly US$100 million compared to the same period of last FY, according to the Ministry of Commerce. From October 1 to January 11 this FY, import value of CMP raw materials reached […]

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 […]

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 […]

New Chair of Kyaukphyu SEZ Wary of Chinese Loans

YANGON — Myanmar will endeavor to take on no loans from China to complete the Kyaukphyu Special Economic Zone (SEZ) but would offer the developer no sovereign guarantees to mitigate risk if it does, said the project’s new chairman, seeking to allay fears of a debt trap. Sean Turnell, an economic adviser to State Counselor […]

Some businesses see positive impact from higher minimum wage

The Myanmar daily minimum wage has been set at K4,800, which is a rise of 33 percent from the K3,600 workers were drawing previously. The change was announced by the National Committee for the Minimum Wage on Monday. The change comes after months of negotiations between business owners and workers unions. Before the current wage […]

Dilemma on minimum wages could lead to better productivity

Concern is rising among employers over demands that the minimum wage be raised to K4,800- K6,600 ($4-$5.20) per day from K3,600 per day currently. That’s a potential increase in wages of more than 80 percent, a move which, if implemented, could put many companies out of business. The Confederation of Trade Unions in Myanmar (CTUM), […]