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Sule Pagoda in Yangon on Jan. 30: Two years after the military takeover, Myanmar can still see no way out of the darkness.
Asia Insight

Myanmar economy hobbled by military rule despite garment boom

Reliance on fewer foreign partners limits economic recovery prospects

Nikkei staff writers | Myanmar

BANGKOK/YANGON -- Around 5 p.m. as the sun begins to set, young women leave a factory in one truck after another at Hlaingtharya Township in northwest Yangon, one of Myanmar's burgeoning garment business hubs.

"My overtime is still less than it used to be," a 35-year-old who works making jackets and hooded tops for South Korean brands told Nikkei Asia. She is comparing it to the rate before February 2021, when the country's military seized power from the elected government of Aung San Suu Kyi. "But the economy is better than it was a year ago," she said.

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