Aung Thein, vice president of the Myanmar Industries Association and managing director of Nibban Electronics, welcomed the move, saying it would boost exports to the US and strengthen local industries. Garment factories would reap the most from the decision, he said.
"For the time being, some well-known US brands like H&M have been making some of their items in Myanmar. As the restrictions are eased, local businesses will get a chance to produce more value-added products and can export them to the US," he said.
He expected garment factories to be the main beneficiaries, as they are the biggest victims of the US sanctions.
"The sanctions hurt the grassroots a lot. When the US started imposing sanctions on Myanmar, some of the garment factories here had to stop working. As a result, a lot of garment workers, mostly female, lost their jobs and faced many difficulties for their survival. So, I believe SMEs [small and medium-sized enterprises] will benefit a lot from this temporary easing of sanctions," Aung Thein said. (Courtesy of nationmultimedia.com)
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