Manufacturing Trends in Myanmar
Manufacturing in Myanmar: One of the Most Promising SE Asian Production Frontiers
As labor and other related manufacturing costs continue to rise in traditional Asian production powerhouses such as China, many firms are looking for new ways to reduce overhead and increase their bottom line. Relocation to Southeast Asian countries such as Vietnam and Thailand has been happening for quite some time; however, until now, Myanmar has yet to gain a similar amount of FDI from such projects although it is currently gaining steam on such fronts.
As an alternative manufacturing location, Myanmar has much to offer in the way of numerous workers at competitive wages. In addition, recent government implementation of a plethora of political and economic initiatives and reforms has made doing business in Myanmar particularly attractive.
The Hong Kong Trade Development Council (HKTDC) recently visited Myanmar to conduct research on the changing landscape of production in Myanmar and found some positive and encouraging trends. To read their intriguing report in full detail, please follow the link provided below:
HKTDC – Myanmar Rising: Opportunities in Asia’s Final Production Frontier
If your firm is currently exploring manufacturing options in Southeast Asia, Source International’s experienced, highly qualified team of sourcing, product engineering, quality control, and supply chain specialists can help. Contact us today for a free consultation on how we can help you focus on what counts most: Increasing your bottom line.
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