Myanmar, the Next Manufacturing Hub - with focus on Special Economic Zones
Following the trade and investment liberalization, access to a large domestic market, as well as abundant low cost labor in Myanmar make the country attractive from a manufacturing perspective. The government is moving forward to increase share of industrials in the overall economy and boost exports to narrow the trade deficit as part of its 5 year plan. However, Solidiance has observed that infrastructure remains a key challenge and the government is now depending on the development of industrial and special economic zones (SEZ), with Thilawa SEZ being heralded to strengthen Myanmar’s position as a manufacturing hub, offering access to an estimated 2.3 billion consumers across the region. Low labour costs in Myanmar have also attracted low-cost manufacturing and there is a gradual shift toward medium-value manufacturing.
This white paper aims to address these main questions :
- 01. What are macro indicators that support Myanmar as manufacturing hub?
- 02. How do Myanmar's special economic zones help the manufacturing sector?
- 03. Is Myanmar the next manufacturing hub?