Garment industry scores foreign investment despite worker unrest

A new batch of foreign companies will invest a collective USD 24 million to make garments and bags in Yangon. According to the Yangon Region Investment Committee (YRIC), ten companies from Myanmar as well as China, Hong Kong, Taiwan and Estonia will
FDI inflows for current fiscal year top USD 2 billion, Hong Kong firms take top spot

FDI inflows for current fiscal year top USD 2 billion, Hong Kong firms take top spot

According to DICA (Directorate of Investment and Company Administration), the total FDI inflows for current fiscal year topped USD 2 billion at USD 2.089 billion exactly. The energy sector accounted for nearly half of the total while Hong-Kong based

Garment tycoons optimistic despite strike

Myanmar’s garment industry is on track to meet its goal of USD 10 billion in exports by 2024, according to the Myanmar Garment Entrepreneurs Association (MGEA). The statement comes despite ongoing strikes and protests from garment workers. The
EU’s Generalised System of Preferences in jeopardy?

EU’s Generalised System of Preferences in jeopardy?

According to U Zaw Min Win, chair of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), the EU may be preparing to revoke the Generalised System of Preferences (GSP) status granted to Myanmar. The President of UMFCCI said
Trade unions to push for increase of minimum wage

Trade unions to push for increase of minimum wage

The Confederation of Trade Unions in Myanmar (CTUM) is bringing a proposal to raise the minimum wage from 4,800 kyats (USD 3.19) to 7,200 kyats per day (900 kyats per hour for an eight-hour work day) to the National Committee for the Minimum Wage. In