ASEANEconomic DevelopmentHumanitarian CrisisMyanmar

Myanmar Faces Wider Business Fallout After Kirin Retreat

By February 10, 2021December 5th, 2023No Comments
Demonstrators take part in a rally in Yangon, on Feb. 10. (Photographer: Sai Aung Main/ AFP/ Getty Images)

Multinational companies in industries ranging from telecommunications to beer brewing to hospitality are waiting with bated breath as the military coup in Myanmar plays out. Given the unpredictability, investors have begun to seek safe havens elsewhere.

Notably, Singapore alone accounts for 34% of total investment in Myanmar, which as a nation, showed promising steps towards democracy just a few years ago.

It’s also an especially sad humanitarian turn of events for Myanmar’s 57 million citizens—who average annual income of less than $1600, with nearly 30% living in desperate poverty—despite vast natural resources.