Myanmar

On February 1, 2021, Myanmar’s military seized power in a coup d’état, undoing a decade of democratic and economic progress under civilian rule. The military’s crackdown on peaceful protests destabilized the country, leading to widespread opposition and a sharp decline in the investment climate. The economy contracted by 18% that year, a stark contrast to the over 6% growth seen on average during the years prior.

Since then, the regime’s ongoing repression and economic mismanagement have further diminished commercial activity in Myanmar. Restrictions on the internet and telecommunications have disrupted business operations, prompting many foreign companies to suspend their activities, and the EU, the U.S. government and other nations have imposed sanctions. Isolationist policies, structural problems and endemic corruption contribute to Myanmar’s status as one of the poorest countries in Asia.