sanctions, the junta established Myanma Economic Holdings Public Co. After a crackdown on student led-protests prompted broad U.S. The military has linked its commercial and political interests since its first coup in 1962, when General Ne Win took power and nationalized major industries. Source: United Nations Independent International Fact-Finding Mission on Myanmar “The cake is shrinking but they will have bigger slices of it.’ “Even if we have economic isolation and chaos on the ground, the military comes out of this a winner,’’ said Romain Caillaud, an associate fellow focused on Myanmar at Singapore’s ISEAS-Yusof Ishak Institute. They offer a wide variety of civil society’s essential goods and services they also employ thousands of civilian and military personnel, control industries including real estate, alcohol, tobacco and natural resources, and pay dividends to hundreds of thousands of soldiers.Īs a result, traditional measures of business success are sometimes irrelevant, and international sanctions designed to put pressure on the junta after the February coup are likely to have minimal effect, according to analysts. (MEC), have cemented the military’s role at the center of the economy. The two major conglomerates founded by the Defense Ministry, Myanma Economic Holdings Public Company Ltd. Photographer: Taylor Weidman/Bloombergīut in Myanmar, Western standards don’t always apply. Pedestrians walk past the Sule Pagoda in Yangon in 2018.
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