Myanmar

The government of Myanmar has approved the country’s first-ever national minimum wage following 2 years of heated negotiations between industry and labor leaders. The rate has been set at 3,600 Kyat (US$2.80) for an 8-hour workday. Both government and industry leaders in the country hope that the new policy will help spur foreign investment by giving companies some assurance in regards to the costs of doing business in Myanmar. (Daily News) (Reuters)