Jonathan Fairfield Posted August 31, 2015 Share Posted August 31, 2015 Myanmar sets $2.80 daily minimum wage in bid to boost investment Myanmar has set a minimum wage of 3,600 kyat ($2.80) for an eight-hour work day, a move likely to boost investment in the fast-growing country's garment industry. The decision on a minimum wage, which follows two years of often acrimonious debate between garment factory owners and labor unions, was announced on Saturday. Myanmar's government has targeted garments for rapid growth, and Saturday's statement may help spur this, as it gives clarity on the law and labor costs to global apparel brands buying clothes from Myanmar. Companies that have pushed for creation of a minimum wage include giant Swedish retailer Hennes & Mauritz (HMb.ST), which works with 13 factories in Myanmar, and U.S. retailer Gap Inc (GPS.N), which buys from two. Once a thriving industry, Myanmar's garment sector was hit hard by sanctions imposed by the United States, stripped of trade benefits and abandoned by brands who feared the reputational risk associated with the former junta. Read more: http://www.reuters.com/article/2015/08/29/us-myanmar-economy-wages-idUSKCN0QY0A620150829 -- Reuters 2015-08-31 Link to comment Share on other sites More sharing options...
peterjackson Posted August 31, 2015 Share Posted August 31, 2015 A step in the right direction, but given the massive increase in the number of garment factories being opened in Cambodia and Vietnam, I fear this will be too little too late. Link to comment Share on other sites More sharing options...
Bakseeda Posted August 31, 2015 Share Posted August 31, 2015 A step in the right direction, but given the massive increase in the number of garment factories being opened in Cambodia and Vietnam, I fear this will be too little too late. Don't fear too much Peter....clothes seem to be catching on.... I don't think demand will fall...... Link to comment Share on other sites More sharing options...
ChrisY1 Posted August 31, 2015 Share Posted August 31, 2015 (edited) Pretty close to the Thai daily rate....... Edited August 31, 2015 by ChrisY1 Link to comment Share on other sites More sharing options...
jalansanitwong Posted August 31, 2015 Share Posted August 31, 2015 In the west 2.80 a day would be considered slavery or slave wages at best. Asian governments proudly call it a 'boost for investment'. And guess who benefits!. They can get away with anything over here. Link to comment Share on other sites More sharing options...
ToddinChonburi Posted August 31, 2015 Share Posted August 31, 2015 $18 dollars for a T-shirt How many can they make in an hour ? Link to comment Share on other sites More sharing options...
worgeordie Posted August 31, 2015 Share Posted August 31, 2015 Another country ripe for exploitation,businesses just move to were the wages are the lowest.without regard for the workers. regards worgeordie Link to comment Share on other sites More sharing options...
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