Myanmar expected to attract more investments due to the U.S. tariffs on China

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.

(Mizzima: http://www.mizzima.com/article/myanmar-expects-attract-more-investment-due-us-tariffs-china )

​