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Thai investors in Myanmar concerned with future business following the military coup

Caitlin Ashworth

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Thai investors in Myanmar concerned with future business following the military coup | The Thaiger
PHOTO: ASEAN Learning Center

With potential sanctions and boycotts against Myanmar likely following the military coup, the Thai-Myanmar Business Council says Thai investors are concerned their businesses in the neighbouring country will be affected.

It’s unclear what effect the coup will have on Thai-owned businesses in Myanmar. The country’s economy, already battered by the Covid-19 pandemic, is expected to slow down with potential sanctions. The United States has already threatened sanctions against Myanmar. With an economic downturn, Thai operators in Myanmar are expecting to lose money, the council says.

No statement from the military has been issued regarding foreign investment and businesses. Myanmar’s new military-run government might decide not to honour the contracts Thai investors signed with the previous administration led by the National League for Democracy, according to the council.

Bilateral trade may only be slightly affected, the council says. On the other hand, an international trade expert says Thailand is likely to see substantial losses when it comes to trade due to changes in transporting goods and strict military checkpoints. If the Myanmar military’s tight security inspections continue in the long term, Thailand could lose more than 1.5 billion baht to 2 billion baht per month, according to the director of the Center for International Trade Studies at the University of the Thai Chamber of Commerce.

SOURCE: Nation Thailand

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6 Comments

6 Comments

  1. Avatar

    Nipral

    Tuesday, February 2, 2021 at 4:51 pm

    Don’t be concerned it’s lost ! Write off and move on !

  2. Avatar

    Toby Andrews

    Tuesday, February 2, 2021 at 5:16 pm

    Yes, the luck of the draw.
    I am sure many Westerners have lost money investing in Thailand, now the Thais have to also endure losses abroad. he he.
    It is a hard cruel world outside of Thailand for Thais who do not have influence and Thai officials to bribe.
    .
    .
    .
    .
    lol, I’m delighted!!

    • Avatar

      Fred Johnson

      Tuesday, February 2, 2021 at 10:28 pm

      5555

  3. Avatar

    jesus monroe

    Tuesday, February 2, 2021 at 7:35 pm

    If they had money to invest, chances are they bent someone over to lay the golden egg……..now it’s their turn to bend over but the egg aint so golden anymore……..

  4. Avatar

    Gosport

    Tuesday, February 2, 2021 at 8:55 pm

    It is time to invest, this is the worst time, what else can come?

  5. Avatar

    Stefan Svensson

    Tuesday, February 2, 2021 at 10:32 pm

    you pay, you pay …! Now reverse order and it does thais not like. Too bad but this is the reality and just the beginning of a sinking ship.

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Read more headlines, reports & breaking news in Thailand. Or catch up on your Thailand news.

Caitlin Ashworth is a writer from the United States who has lived in Thailand since 2018. She graduated from the University of South Florida St. Petersburg with a bachelor’s degree in journalism and media studies in 2016. She was a reporter for the Daily Hampshire Gazette In Massachusetts. She also interned at the Richmond Times-Dispatch in Virginia and Sarasota Herald-Tribune in Florida.

Myanmar

38 people die “bloodiest day” since Myanmar coup – United Nations

Caitlin Ashworth

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38 people die “bloodiest day” since Myanmar coup – United Nations | The Thaiger
Anti-coup protest in Myanmar on February 14 / Photo by Htin Linn Aye via Wikimedia Commons

38 people died during Myanmar’s anti-coup protests yesterday in what the United Nations is calling the “bloodiest day” in the country since the February 1 military takeover. UN special envoy for Myanmar Christine Schraner Burgener said the death toll is “shocking” and that the situation in the Southeast Asian country could lead to a “real war.”

Since last month’s coup, more than 50 people have died while many others have been wounded in protests against military rule. Witnesses say police and soldiers have opened fire with little warning. In a virtual briefing, the UN envoy said experts believe the Burmese police are using 9mm sub-machine guns to fire shots at civilians.

“I saw today very disturbing video clips. One was police beating a volunteer medical crew. They were not armed… Another video clip showed a protester was taken away from police and they shot him from very near, maybe one metre. He didn’t resist his arrest and it seems he died on the street.”

Burmese troops seized power of the civilian government last month, citing what they say was a fraudulent election, although the election commission said the vote was fair. A number of civilian politicians were arrested including democratic leader Aung San Suu Kyi, who had won the November election for state counsellor in a landslide.

Christine says more than 1,200 people are now under detention and many do not know where their loved ones are.

SOURCE: UN News | Aljazeera

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Myanmar

UN condemns violence in Myanmar as at least 18 killed in clashes with authorities

Maya Taylor

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UN condemns violence in Myanmar as at least 18 killed in clashes with authorities | The Thaiger
PHOTO: Wikimedia

The UN human rights office (OHCHR) has called for an immediate end to the use of force in Myanmar, after at least 18 people were killed in violent clashes yesterday. Those opposed to the February 1 military coup have been taking to the streets, with police and military forces opening fire in what was the deadliest day so far.

A spokesperson for UN Secretary-General António Guterres says he condemned the use of force against protesters, which resulted in at least 30 people being injured and 18 killed.

“He is deeply disturbed by the increase in deaths and serious injuries. The use of lethal force against peaceful protestors and arbitrary arrests are unacceptable.”

The Burmese army claims that the parliamentary elections, in which State Counsellor Aung San Suu Kyi was elected, were fraudulent. She was arrested on February 1, along with several members of her administration. According to media reports, she is due to appear in court today.

The UN Ambassador to Myanmar also condemned the military coup in a General Assembly address in New York and called on the international community to act. He has since been fired.

OHCHR spokesperson Ravina Shamdasani has also condemned the violence, saying the Burmese people have the right to peacefully protest in the name of democracy.

“The people of Myanmar have the right to assemble peacefully and demand the restoration of democracy. These fundamental rights must be respected by the military and police, not met with violent and bloody repression.”

After clashes between protesters and the military and police, deaths have been reported in Yangon, Dawei, Mandalay, Myiek, Bago and Pokokku, with Shamdasani claiming tear gas and stun grenades were used against protesters. She has slammed the use of force and condemned the arrest and detention of activists.

“Use of lethal force against non-violent demonstrators is never justifiable under international human rights norms. Since the beginning of the coup d’état, the police and security forces have targeted an ever-increasing number of opposition voices and demonstrators by arresting political officials, activists, civil society members, journalists, and medical professionals.

“Today alone, police have detained at least 85 medical professionals and students, as well as 7 journalists, who were present at the demonstrations. Over 1,000 individuals have been arbitrarily arrested and detained in the last month – some of whom remain unaccounted for – mostly without any form of due process, simply for exercising their human rights to freedom of opinion, expression and peaceful assembly.”

The military coup of February 1 came as Myanmar was edging towards democracy after years of army rule. It has been condemned by countries around the world and brought hundreds of thousands of Burmese onto the streets to demand an end to military rule and the restoration of democracy.

SOURCE: UN News

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Politics

Myanmar’s representative to UN urges strong action against military after increasing violence against protesters

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Myanmar’s representative to UN urges strong action against military after increasing violence against protesters | The Thaiger

A representative to the UN for Myanmar is urging the “strongest action to be used against the military after it has used increasing amounts of violence against anti‐coup protesters. The latest round in violence occurred as riot police violently broke up peaceful protesters, arresting over 100 people in 3 major Myanmar cities.

Kyaw Moe Tun made the appeal to the UN General Assembly in New York asking for the international community to end the junta’s rule in his country, while displaying the 3 finger salute that has been adopted from the Hunger Games as a symbol of resistance from anti‐coup supporters.

“We need… the strongest possible action from the international community to immediately end the military coup, to stop oppressing the innocent people, to return the state power to the people, and to restore the democracy.”

Former UN ambassador for the US, Samantha Power, also tweeted her support for the movement.

“It’s impossible to overstate the risks that #Myanmar UN ambassador Kyaw Moe Tun just took in the UN General Assembly.”

UN envoy to Myanmar, Christine Schraner Burgener, also agreed saying the use of lethal force against protesters was “unacceptable.”

So far, at least 5 people have been killed since the overthrow, which has seen police open fire on protesters. Thandar Cho, a street food vendor, says she saw police point their guns in a threatening manner towards apartments during the rallies.

“They beat young protesters with rods and cursed them while doing it.”

A Japanese journalist, Yuki Kitazumi, was also allegedly arrested according to a Facebook post by his assistant, Linn Nyan Htun, during the crackdown.

He “was beaten on the head by baton but he was wearing a helmet.”

The military has justified the coup by alleging that the 2020 November democratic elections, which saw Aung San Suu Kyi’s National League for Democracy elected by landslide, were fraudulent.

Suu Kyi was arrested, along with other leaders, and is now facing 2 charges of illegally posessing walkie-talkies in her home and for breaking Covid-19 rules. But her lawyer, Khing Maung Zaw, is concerned as he has still not made contact with her, saying it is dire to get her permission for him to represent her in court.

“It’s very important to get her signed power of attorney before the hearing starts on March 1 because we won’t be allowed to act as her defence counsels if we cannot file (it).”

“Then Daw Aung San Suu Kyi will be rid of her right of fair trial without a legal counsel.”

SOURCE: The Phuket News

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