Aye Thaung, Chairman of Shwelinban Industrial Zone, told the media that although it is somewhat right to say that Myanmar's economy is slowing down in various sectors, the industrial sector is improving.

The chairman made the comment during a ceremony to select a new executive committee of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). 

"It is somewhat right to say our economy is declining across various sectors. But, the industrial sector is improving. Investors come as they trust in opportunities in Myanmar. Even if new investment does not come, the existing businesses are improving with additional investment," said Aye Thaung. 

The industrial sector with good prospects requires greatest manpower. If issues involving employers and employees can be addressed, the industrial sector will further improve, he said. 

"What I would like to advise is that we don't need to give them (investors) any incentive. Just protect them with our existing laws. I don't mean we will give them rights. For example in labour issue, there are some losses and if workers make demands, we should not favour employees only or employers only. It will be OK if we act in accord with the law," Aye Thaung commented. 

In an interview conducted by a State-run newspaper, Union Minister for Investment and Foreign Economic Relations Thaung Tun said there are re-export products in foreign investment sector. 

He said: "One example is the garment industry. Now, it is not the only one. There have come other items such shoe-making, sports suit and luggage making. Now our country has seen car assembling." 

From 1988-1989 fiscal year to October 2019, there have been 1,252 industries across Myanmar including Thilawa Special Economic Zone with a total investment of US$13.056 billion, according to figures from Directorate of Investment and Companies Administration.