Myanmar's government has set the daily minimum wage for workers in the country at $2.80. Industry experts are predicting this move to be a shot at recovering the garment industry that was once incredibly strong in the country.
According to the International Labor Organization, this would put Myanmar (formally called Burma) at a great competitive advantage over other countries in the region. A single worker in Myanmar would cost $67, versus $90 in Vietnam and $128 in Cambodia.
The move comes as the Untied states announced that it will be lifting the sanctions placed on the country back in 2012. The original issue stemmed from the US being concerned that many companies were tied to the generals who ran the region up until 2011. The blacklist was seen as a way to ensure the flow of money stopped.
The new law excludes family run operations and companies with less than 15 workers and is aimed primarily at the large international companies that do business in the region.
Read More at Reuters:
http://www.reuters.com/article/2015/08/29/us-myanmar-economy-wages-idUSKCN0QY0A620150829
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