The Myanmar Garment Manufacturers Association (MGMA) says it fears that half the garment factories in the country may have to shut down temporarily as soon as March, due to a shortage of raw materials from China. The association announced this during a press conference at the Union of Myanmar Federation of Chambers of Commerce and […]
Weavers of traditional textiles in Mandalay unite
January 29, 2019 by
Weavers at Amarapura have formed an association representing hundreds of small and medium weaving businesses in Mandalay Region to confront a threat from cheap copies of traditional Myanmar textiles being imported from China and India. The weaving industry based at Amarapura is a leading producer in Mandalay Region of traditional Myanmar attire as well as […]
What to expect from Myanmar’s top five export sectors
November 15, 2018 by
Even though Myanmar managed to bring down its trade deficit by US$500 million to $1.3 billion during the period between April 1 and September 30 from the same period last year, the volatile exchange rate and rising oil prices may well continue to drive up import costs in the coming months. U Yan Naing Tun, […]
Business groups speak out against potential withdrawal of EU GSP
November 8, 2018 by
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
September 24, 2018 by
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 […]
Researchers study impact of Myanmar minimum wage rise
June 28, 2018 by
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%
March 14, 2018 by
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, […]
Myanmar Garment Industry Stuck in 1993 Due to Lack of Resources
December 7, 2017 by
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 […]
