Myanmar Civilian Govt Warns Foreign Firms  Investing Under Junta

By The Irrawaddy 1 August 2022

Myanmar’s civilian Nationwide Unity Authorities (NUG) has threatened seven Singaporean companies and a Chinese language firm for investing within the junta.  

The NUG’s ministry of planning, finance and funding mentioned it’ll implement extreme sanctions and penalties for international investments which didn’t adjust to the shadow authorities’s directions.

The NUG’s warning got here three days later after a individuals’s protection power raided an electrical energy plant operated by a non-public agency and the regime in Magwe Area. 

Six Singaporean solar energy companies – Myanmar Satoketayar, Myanmar Kyeeonkyeewa, Myanmar Kindar, Myanmar Sedawgyi, Myanmar Shwekyin and Yangon Thermal Energy – have been authorised by the junta-controlled Myanmar Funding Fee to supply and promote electrical energy in Yangon, Magwe, Mandalay and Bago areas.

One other Singaporean agency, SIM Co Ltd is permitted to develop ports and shops to supply companies for the offshore drilling industries, in accordance with the NUG.

In the meantime, a Chinese language agency Greatest Garment Myanmar was authorised to construct factories in Yangon.

The shadow ministry mentioned its cupboard has demanded all funding permits and endorsements issued since final 12 months’s coup be suspended. 

In July and August final 12 months, the NUG warned that it’s going to not acknowledge any new investments authorised by the junta and can take motion towards these investing beneath the regime.

“That is the final warning for traders to not search a allow to speculate and to unconditionally droop their operations,” mentioned the shadow ministry’s assertion mentioned.

Final Thursday, many employees and a chief engineer had been detained by a resistance power throughout the raid on an electrical energy plant which is a three way partnership between a non-public firm and the regime in Kyaw, Gangaw District in Magwe area.

Yaw Protection Power claimed duty for the raid and arrests.

Matters: China, civil disobedience motion, civilian deaths, Coup, crackdown, Democracy, International Direct Funding, Human Rights, junta, navy in politics, navy regime, Min Aung Hlaing, Nationwide League for Democracy, Nationwide Unity Authorities, November 8 basic election, PDF, Folks’s Protection Power, individuals’s warfare, Political Prisoners, regime, Rule of Regulation, Singapore, State Administrative Council, State Counselor Daw Aung San Suu Kyi, Tatmadaw