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 junta decision to allow palm oil imports in the early 1990s dealt a big setback to the domestic edible oil sector, which continues to struggle in a competitive market and needs more government support, industry leaders say.
Low energy prices and the high cost of offshore exploration are prompting some energy companies to give back blocks won in a 2014 tender – a development that could hurt Myanmar’s ability to meet its power needs in the years ahead.
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.