Myanmar’s Economy in Freefall Under Military Regime
Myanmar’s Economy in Freefall Under Military Regime
Feature: The military regime s security forces guarding City Hall in downtown Yangon Feb.6 / The Irrawaddy
958
By The Irrawaddy 22 April 2021
Before last year’s November election, the World Bank and the Asian Development Bank predicted that Myanmar would bounce back strongly from the economic impact of the global COVID-19 pandemic, with the economy set to grow at around 6 percent in 2021.
In the immediate aftermath of the military’s Feb. 1 coup, junta leaders sought to keep the economy on track by presenting themselves as business-friendly and saying that economic policies would remain unchanged during the state of emergency. The junta even appointed some individuals to Myanmar’s key economic ministries who were already well-connected and well-known to the international community.
BusinessS.Korea s POSCO C&C says to end Myanmar military-backed joint venture
ReutersJoyce Lee
2 minutes read
The logo of POSCO is seen at the company s headquarters in Seoul, South Korea, July 20, 2016. REUTERS/Kim Hong-Ji/File Photo
POSCO Coated & Color Steel Co Ltd (POSCO C&C) (058430.KS) said on Friday it will end its joint venture with Myanmar Economic Holdings Public Co Ltd (MEHL), a firm controlled by the military in Myanmar which took control of the country in February.
The South Korean firm did not detail how it will end the venture, saying in a statement that it will continue to disclose related issues. A POSCO C&C spokesman told Reuters that, though the firm is ending the venture relationship, it is not pulling out Myanmar.
By Joyce Lee SEOUL (Reuters) - POSCO Coated & Color Steel Co Ltd (POSCO C&C) said on Friday it will end its joint venture with Myanmar Economic Holdin.
Message :
Required fields
SEOUL, April 16 (Reuters) - POSCO Coated & Color Steel Co
Ltd (POSCO C&C) said on Friday it will end its joint
venture with Myanmar Economic Holdings Public Co Ltd (MEHL), a
firm controlled by the military in Myanmar which took control of
the country in February.
The South Korean firm did not detail how it will end the
venture, saying in a statement that it will continue to disclose
related issues. A POSCO C&C spokesman told Reuters that, though
the firm is ending the venture relationship, it is not pulling
out Myanmar. We hope that our steel business will continue to contribute
SKorea s POSCO C&C says to end Myanmar military-backed joint venture
The logo of POSCO is seen at the company s headquarters in Seoul. Reuters file photo Reuters, Seoul Reuters, Seoul
POSCO Coated & Color Steel Co Ltd (POSCO C&C) said on Friday it will end its joint venture with Myanmar Economic Holdings Public Co Ltd (MEHL), a firm controlled by the military in Myanmar which took control of the country in February.
The South Korean firm did not detail how it will end the venture, saying in a statement that it will continue to disclose related issues. A POSCO C&C spokesman told Reuters that, though the firm is ending the venture relationship, it is not pulling out Myanmar.