Junta boss Min Aung Hlaing, who is paying a goodwill visit to Russia at the invitation of Russian President Vladimir Putin, attended the Myanmar-Russia Business Forum and met with Russian Defense Minister Andrey Belousov on Wednesday.
At the forum, Min Aung Hlaing hailed cooperation between the two countries in various sectors including trade and investment, energy, banking and finance. He urged Russian business owners to invest in and trade with Myanmar.
Min Aung Hlaing said he was gratified at the new step taken in cooperation with Russia to upgrade the Dawei Special Economic Zone (SEZ), a strategic sea port. Just a few days before Min Aung Hlaing’s visit to Russia, the two regimes signed a memorandum of understanding on Russia’s investment in the Dawei SEZ, located in Tanintharyi Region in southern Myanmar.
“I want you to bring your wealth and technologies to the Asia region. Myanmar wants to give that opportunity to you. I invite you to come and invest in Myanmar with confidence,” Min Aung Hlaing told Russian business owners at the forum.
The junta boss also invited them to invest in transport infrastructure along economic corridors in Myanmar to facilitate maritime trade through the Dawei SEZ.
He urged them to cooperate on solar, wind and hydro electricity production as well as on the development of information technology and digital infrastructure in Myanmar.
“Besides [proximity to] 10 ASEAN countries [members of the Association of Southeast Asian Nations], Myanmar borders China, India and Bangladesh, which are heavily populated. It would be better if you consider those countries to find markets for your products. Whether you produce value-added products with raw materials from Myanmar, or make direct investment, I can assure you that you will definitely gain benefits,” the junta boss said.
The junta boss also downplayed the civil war and rampant cyber fraud in Myanmar. “Some of the problems Myanmar is facing are just temporary. You don’t need to take them into account,” said the junta boss.
Myanmar has been embroiled in civil war since the military seized power in a coup in 2021. The regime has lost control of more than 90 towns and two regional commands with fighting taking place in almost all the ethnic states and in central Myanmar.
As the regime can no longer protect foreign investments in the country, China pressured the regime to enact the Private Security Services Law, enabling Chinese security companies to operate in Myanmar to protect Chinese investments and businesses.
Apart from the question of stability, troubled electricity supply is also a problem for potential investors in Myanmar. While the coup has forced many foreign investors to withdraw from Myanmar, local businesses have been struggling due to chronic power shortages.
After the business forum, Min Aung Hlaing met with Belousov to discuss further promotion of ties between the two armed forces, and cooperation in military technology.
Along with China, Russia is one of the junta’s main arms suppliers, enabling shelling and airstrikes against Myanmar civilians, as a majority of the population is against military rule in the country.
In December last year, Moscow made the final shipment of two warplanes out of six that the junta ordered from Russia.
During the meeting, the defense minister said his ministry intends to implement all agreements with Myanmar reached at the highest level, Tass reported.
He said the defense ministries of Russia and Myanmar traditionally have a broad agenda of mutually beneficial military and military-technical cooperation, proving a high level of mutual trust.
“We are ready to discuss with you in detail all current issues of bilateral cooperation in the defense sphere,” Belousov said, adding that he was glad to meet and get acquainted with Myanmar’s junta boss.
The junta boss also met with Russian Security Council Secretary Sergey Shoigu on Tuesday to discuss promotion of security cooperation between the two countries. Shoigu invited junta officials to attend security forums in Russia.
Russia has long been providing military training for Myanmar military officers, and the diplomatic ties between the two countries have expanded beyond the arms trade since the 2021 coup. The two regimes are now engaged in forming a strategic partnership, with the regime acquiring nuclear and aerospace technologies from Moscow.
