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World Bank Myanmar Economic Monitor: Import Restrictions, Security Issues, and Workplace Dialogue in Focus

On 13th December, The World Bank launched its latest edition of the Myanmar Economic Monitor, a biannual report on Myanmar’s economic performance, covering challenges and outlooks for businesses in Myanmar. 
 
During the report launch, hosted by the World Bank and the UMFCCI, EuroCham Myanmar’s Head of Policy and Strategy, Mr Thet Zaw Htwe, shared the sentiments of the European businesses, particularly related to the import restrictions for raw materials and supplies, hampering the domestic manufacturing. Other concerns raised by the EuroCham Myanmar members in its quarterly Business Confidence Survey relate to the security situation, electricity outages and illicit trade. 
 
Looking ahead, Thet explored further relaxation of export earnings conversion rules to support the manufacturing sector, acknowledging inflation and the importance of adjusting wages for workers accordingly. As the conclusion and also a key priority, Thet stressed the importance of maintaining the workplace dialogue to solve grievances in a timely and accurate matter, referring to good practices to support the export-oriented manufacturing sector under the MADE in Myanmar project.