Business Impact: COVID-19 Caused Great Impact On Local Businesses: UMFCCI

Due to the outbreak of COVID-19 in China, many industries in Myanmar has great impact, the officials from UMFCCI said during a press conference in Yangon on Thursday.

The press conference was held after the meeting between the government officials, the private sectors and the local international chambers and  the officials from Confederation of Trade Unions of Myanmar on how to overcome  the impact of COVID-19 on business sectors this morning.

It is learnt that the raw materials for garment industry have been imported from China and it now has been suspended. These factories are now operating with eight working hours per day and also closed on Saturdays, Sundays and public holidays, while paying full salaries to the workers in order to continue the operation of CMP factories till April.

The UMFCCI Secretary General said many SMEs and small businesses also have great impact by this issue.

The industry players requested the government to grant low interest loan for the businesses that were affected by the outbreak so as to continue their operations.

Secretary General, UMFCCI, Aye Win said “Local SME industries, fruit growers and exporters as well as tourism sector also have impact by the outbreak of COVID-19. Many small businesses can also be affected by this issue.”  

They also request the government to implement social security scheme for the workers who will be affected by the temporarily closing of factories. If the workers have to be compensated, the amount of compensation could be calculated on the minimum wages. They also asked for allowing Temporary Leave Without Pay for the workers till the issue become stable.

Chairperson, Confederation of Trade Unions of Myanmar, Mg Mg said “We are working to operate through better system. And we have transparency and mutual respect between the employers and the laborers.”

The UMFCCI also request the Government to postpone the announcement for the minimum wages that is due by the end of May till September due to the current situations.