If The Epidemic Continues, About Half Of Burma'S Textile Mills Will Go Bankrupt.

It is estimated that about half of the textile mills in Burma will be closed if the epidemic continues.

Recently, at a conference held in Yangon, Burma textile Practitioners Association (MGMA) responsible person said, Burma textile factory, 90% of the raw materials are dependent on imports. After the outbreak of the new crown, the supply of raw materials such as cloth and zippers was insufficient, and some textile factories in Burma have already reduced production capacity and working hours. It is estimated that about half of the textile factories in Burma will be closed. The textile industry is one of the most important industries to stimulate employment in Burma, and will undoubtedly have an important impact on Burma's economy.

In Yangon, there are about 500 textile enterprises, 263 of which are Chinese funded factories, 67 are Korean factories, and 92 are local manufacturers, which employ about 500 thousand workers. If there is a continuous shortage of raw materials, the unemployment rate will continue to rise.

Tourism revenue in Burma dropped by 80%

In addition to the textile industry, tourism revenues in Burma dropped by 80%. The tourism industry is affected, and the domestic hotel industry and catering industry are bound to be affected, causing workers to lose their jobs.

The chairman of the Burma tourism Merchants Association, Wu ng Na Han, said that during the epidemic period, the number of tourists coming to Burma was significantly reduced, which made the more popular tourist season suddenly ended.

At present, the number of confirmed cases is increasing all over the world, and Burma has adopted epidemic prevention measures against many epidemic risk countries. Due to the cancellation of the trip to Burma in many countries, the occupancy rate of domestic hotels has dropped significantly, and hotels are preparing to lay off workers in order to cope with the off-season.

On the one hand, it is the life and death of an enterprise, which is related to economic development; on the other hand, it is the job and income of workers, which is related to social stability. In order to ensure steady employment and stable wages, the association of travel merchants submitted three requests to the government: businessmen hope that the government can provide short-term interest free loan services to travel practitioners during the special period, reduce tax or provide tax concessions for travel practitioners, and help tourism practitioners improve their professional capabilities.

At the same time, Burma is one of the most labor exporting countries in Southeast Asian countries, and a large number of Burmese employees go abroad to work every year. During the outbreak, many countries took measures to restrict the entry of foreigners. Meanwhile, many Burmese workers who have gone abroad have returned to Burma from abroad for safety reasons. As a result, the rate of migrant workers in Burma has also been affected, bringing pressure on the domestic employment market.

In addition, from the present point of view, there have been some new changes in the world economy, including turbulence in financial markets and large fluctuations in commodity prices, and there may be some slowdown in world economic and trade growth. This will also have a certain impact on Burma's economic growth. On the whole, the pressure of employment in Burma is still relatively large.