MyanmarNews

Myanmar junta privileges military-owned entities, targets private companies

Traders, entrepreneurs, and economic analysts are comparing the military authorities’ recent actions against private companies to the years of economic mismanagement under Myanmar’s previous military dictator Ne Win

The Myanmar military council is extending preferential treatment to junta-owned entities amid an ongoing crackdown on private businesses for allegedly destabilising markets, analysts and business sources said. 

Military authorities have made a series of arrests targeting employees and owners of private companies, interrogating them about alleged manipulation of the United States (US) dollar exchange rate and rising prices for gold, fuel, cooking oil, and other commodities.

The military council announced on June 30 that they would take legal action under the Important Goods and Services Act against seven rice mill owners and eight company officials from the City Mart, Aeon Orange, One Stop Mart, and Sein Gay Har supermarkets.

Following volatility in the gold market, the military also . . .

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