For foreign investors in Myanmar, coup adds new uncertainties

Aljazeera
Megha Bahree
18 Feb 2021

The possibility of Western sanctions leaves foreign entrepreneurs in Myanmar worried about their future prospects.


Ongoing street protests against the February 1 military coup in Myanmar have added to fears among foreign investors of a return to the instability of the country's pre-democracy era [Sai Aung Main/AFP] 

On February 1, Vijay Dhayal, an Indian business consultant in Myanmar’s biggest city, Yangon, received a call at 6am (23:30 GMT) from a member of his team telling him that a coup was under way, plunging what had been a routine Monday morning into turmoil

The military had begun detaining civilian leaders, overthrowing Myanmar’s democratically elected government and turning the clock back to the period between 1962 – when Myanmar’s military first took control, 14 years after independence – and 2011, when it ushered in parliamentary elections and democratic reforms.

 

Rakhine Rebels Eager for Foreign Investment

The Irrawaddy
By Moe Myint
23 July 2019

Myanmar police patrol inside the Chinese state-owned CNPC oil storage tank compound on Maday island in 2017. / Moe Myint / The Irrawaddy

YANGON—The Arakan Army (AA) has signaled to foreign developers it wants them to invest in Rakhine State, noting that the region is on an essential part of Chinese President Xi Jinping’s signature Belt and Road Initiative (BRI)—the proposed comprehensive trade and logistics route linking China and Europe through Central Asia, the Middle East and Russia.

The AA’s political wing, the United League for Arakan (ULA), announced in a three-part statement that it is accepting investments from foreign investors, including BRI-related projects.

Rakhine State Investment Fair Attracts Investment Agreements

       Myanmar 

BUSINESS TODAY

Author: Zin Thu Tun | 04 Mar 2019
| Vol 7 Issue 10

The Rakhine State Investment Fair, held on February 22-23, has attracted investment agreements of substantial worth, according to Myanmar Investment Commission.

Suu Kyi urges investment in Rohingya crisis' epicenter.

Myanmar leader keen to boost rural economy as 2020 election looms

NIKKEI ASIAN REVIEW
YUICHI NITTA, Nikkei staff writer

FEBRUARY 27, 2019 12:42 JST

The economic potential of Rakhine State "remains untapped," Myanmar's de facto leader Aung San Suu Kyi told investors and businesses last week. © Reuters

THANDWE, Myanmar -- Aung San Suu Kyi, Myanmar's de facto leader, has chosen impoverished Rakhine State as a venue to issue a new call for foreign investment, even as her government faces international criticism for failing to stop persecution of the Rohingya Muslim minority there.

Investment whitewash for Rohingya bloodshed

ASIA TIMES
 February 26, 2019

Historic temples. Sandy beaches. Fishing grounds and farmland galore. This is the idyllic and profitable picture that the government of Myanmar painted last week for potential investors in the country’s troubled Rakhine state. The government sought to allure crowds of potential investors from countries including Japan and South Korea who attended the Rakhine State Investment Fair in the town of Thandwe, with descriptions of Rakhine’s “untapped” investment potential.

Suu Kyi: Invest in Rakhine.

THE Star ONLINE
Saturday, 23 Feb 2019

New ventures: Investors looking at the schedule of the Rakhine State Investment Fair at Ngapali beach in Thandwe, Myanmar. — Reuters

NGAPALI BEACH: Myanmar leader Aung San Suu Kyi called for investment in the crisis-hit western state of Rakhine, saying the world had “focused narrowly on negative aspects” in the state from which some 730,000 Rohingya Muslims have fled since 2017.

Troubled Rakhine touted as tourist attraction.

THE Star ONLINE
Friday, 22 Feb 2019

Deceptive calm: Tourists relaxing at Ngapali Beach in Thandwe, Rakhine State. — Reuters

YANGON: Organisers of a summit in Myanmar’s crisis-hit western state of Rakhine are this week pitching to investors its plentiful farmland and fishing grounds, tourist-ready beaches and historic temples.

Chin State offers greenfield opportunities for investors.

The Myanmar Times.
THIHA KO KO | 20 FEB 2019

Chin State is looking to attract local and foreign investors to accelerate the development of tourism, agriculture, livestock, and electricity generation in the state, U Aung Naing Oo, the secretary of Myanmar Investment Commission (MIC), said Tuesday.

As part of efforts to attract potential investors the Chin State Investment and Products Fair will be held on March 16 and 17 at the Myanmar Convention Center in Yangon, with the support of the Myanmar Investment Commission, Chin State government, Chin State Chambers of Commerce and Industry, DaNa Facility, and VDB Loi.