Sanctions Threat Already Having Chilling Effect on Business Activity in Myanmar
Sanctions Threat Already Having Chilling Effect on Business Activity in Myanmar
Military trucks and armored personnel carriers are seen in Mandalay, the commercial hub of central Myanmar, on Feb. 3. / Zaw Zaw / The Irrawaddy
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By Nan Lwin 3 February 2021
YANGON Many firms, especially foreign-owned businesses, in Myanmar have reacted with shock to Monday’s military coup and declaration of a yearlong state of emergency, which has put billions of dollars’ worth of foreign investment at risk due to possible sanctions from Western countries. Some foreign firms have already put investment commitments on hold.