Senior General Min Aung Hlaing has attracted ridicule for airing grand development plans at a time when the economy is in crisis, but even the regime’s more rational economic goals are unlikely to be achievable.
The military regime is set to drop meaningful structural reforms from an economic recovery plan initiated by the former National League for Democracy government, and is instead promising to slash red tape in a bid to shore up collapsing business confidence.
A new Central Bank deputy governor has lashed out at protesters and bank staff who have joined the Civil Disobedience Movement and forced private banks to close their branches, and claimed the military regime is “doing its best” and should be given more time.
More than two months after they were introduced, residents and officials in Yangon are increasingly ignoring stay-at-home orders, yet the government insists infection rates need to fall before they can be rolled back.
Existing free trade agreements and longstanding non-trade barriers could limit the RCEP’s impact for Myanmar, but the country may benefit from increased investment due to improved access to global value chains.
The Kayin State Border Guard Force has come under intense pressure from the Tatmadaw over its extensive, controversial business interests and there’s concern the ultimatum could trigger fresh hostilities in one of the country’s most war-torn areas.