New Foreign Investments to Bring Over 6,000 Jobs to Yangon

[geovalin]

New Light of Myanmar

 

Yangon Region is set to gain a major employment boost as eight new businesses — backed by foreign investment — have been approved to operate in the industrial sector, creating jobs for nearly 6,800 people.

 

The Yangon Region Investment Committee (YRIC) confirmed that six of the new enterprises are fully foreign-owned, while two are joint ventures. Combined, they represent a total investment of just under US$7.8 million.

 

Approved during the committee’s June meeting, the businesses will focus largely on garment and industrial manufacturing, operating under the popular “cut, make, and pack” (CMP) model — a cornerstone of Myanmar’s export-driven textile sector.

 

“This approval reflects our effort to bring job opportunities to the region,” a YRIC official stated, noting that the committee not only greenlit new projects, but also allowed for increases in investment and workforce size at existing operations.

 

The push comes as Myanmar’s economy continues to struggle under political instability and global sanctions, with job creation seen as a crucial tool for maintaining social stability in urban centres like Yangon.

 

The government has been keen to highlight its continued openness to foreign capital, despite international concerns about the country’s broader investment climate.

 

YRIC says it reviews investment proposals from both local and foreign stakeholders on a monthly basis, aiming to stimulate industrial growth and employment under existing legal frameworks.

 

For many in Yangon — particularly workers in the garment sector — the latest announcement offers a glimmer of economic hope in uncertain times.

 

 

[emptypockets]

Foreign investment?

China I expect.