Mekong Memo Myanmar 20231003
Mekong Memo Myanmar Weekly, October 3, 2023: Business, politics, finance, trade & legal news.
We monitor and filter the very best and most insightful stories from Southeast Asia directly to your inbox every week.
By reviewing a wide variety of media including legal, financial and other relevant industries along with government and NGO sources, we are able to sift through the noise and bring you only what we believe to be relevant to an informed observer of Myanmar business news.
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With that said, here is your Mekong Memo Myanmar for the week of October 3, 2023:
Election Plans Ignite Global Concern
The UK, Canada, and Taiwan have condemned Myanmar’s military junta’s plans for tightly controlled elections amidst ongoing violence and human rights violations. The international divide is evident, with Russia and China fostering relations with the regime, while Western nations and allies advocate for democracy and human rights. The junta’s internal reshuffles and ‘corrective purges’ hint at consolidation attempts, raising concerns over the regime’s stability. The planned elections, following the dissolution of major political parties, are criticized as a move to legitimize the military’s power, risking further unrest and undermining long-term peace.
Read more: Al Jazeera
Citizens Bear Brunt of Junta's Financial Tactics
Amidst an economic downturn, Myanmar's military regime is imposing new financial burdens on its citizens. The junta has introduced increased utility bills and hiked license fees for jade and gems dealers. Vehicle registration fees have tripled since the coup, and migrant workers are now mandated to remit a significant portion of their foreign earnings through official channels. Non-compliance results in severe penalties. Additionally, the private medical sector faces a new income tax, and residents have reported rising utility bills. The junta's measures come as the nation grapples with unemployment, inflation, and skyrocketing food prices.
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