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Chinese Group Proposes Major Garment Manufacturing Hub in Northern Myanmar A scenic view from the Sagaing Hills. / Zaw Zaw / The Irrawaddy 4.0k By Nan Lwin 26 January 2021 YANGON—A Chinese textile group has submitted a proposal to implement an international textile manufacturing cluster project in a major town in Sagaing Region, an economic hub for Upper Myanmar, at an expected cost of more than US$370 million (493.49 billion kyats). The Ministry of Planning, Finance and Industry (MOPFI) said China’s Jiangsu province-based Eastern Development International (Myanmar) Co. Ltd. (Dongzhan T...

Myanmar’s Economic Year in Review Myanmar's business hub, Yangon. / Htet Wai / The Irrawaddy 4.8k By Nan Lwin 25 December 2020 YANGON—The Myanmar government began 2020 with high expectations that it would be the year the economic liberalization and reforms it introduced during the previous four years would begin to bear fruit. However, the COVID-19 pandemic upended its plans, slowing Myanmar’s economic growth to 1.7 percent in fiscal 2019-20 from 6.8 percent in 2018-19, not only hammering small and medium-sized enterprises (SMEs) and the tourism and garment/textile sectors, but also d...