Business

The regime’s energy minister Ko Ko Lwin has agreed to Russian oil and gas proposals at the Dawei special economic zone.

Regime-linked businessmen are set to cash in on deals flowing from the 10 agreements signed between Russia and the Myanmar regime during Min Aung Hlaing’s recent visit.

Smuggling crackdown follows Thailand’s export restrictions, sparking fears of worsening price hikes and shortages. 

Min Aung Hlaing, who is in Russia, also met the country’s defense minister, who vowed to implement all agreements with Myanmar reached at the highest level.

The junta chief’s son is invested in two of the three authorized BYD distributors now hoping to assemble EVs in-country despite chronic power cuts and lack of charging stations.

Despite a frantic conscription drive at home, the Myanmar junta hopes to earn valuta by sending 10,000 workers to short-handed Russia.

Operators in the tourism, restaurant, property and retail sectors demand stricter enforcement of laws to prevent expats from dabbling in illegal businesses.

The ministerial-level team held wide-ranging talks with senior junta officials and signed an agreement to invest in the Dawei Special Economic Zone, among others.

Agreement covers construction of deep-sea port, power plant and oil refinery in conflict-hit Tanintharyi Region zone.

Construction of the Peninsula Yangon, a joint venture with Yoma Group formerly chaired by detained tycoon Serge Pun, has been stalled since the 2021 coup.