Myanmar expects to attract more investment as manufacturers seeking to relocate production from China to skirt U.S. tariffs encounter capacity constraints in Vietnam, Bloomberg reported.
Myanmar’s goal is to woo a total of $5.8 billion in foreign-direct investment this year and is trying to cut back the red tape that deters some companies, according to a senior government official.
The World Bank has said that production relocation sparked by the U.S.-China trade war is an opportunity for Myanmar, according to the report.