Related Research Articles
The economy of Myanmar is the seventh largest in Southeast Asia. After the return of civilian rule in 2011, the new government launched large-scale reforms, focused initially on the political system to restore peace and achieve national unity and moving quickly to an economic and social reform program. Current economic statistics were a huge decline from the economic statistics of Myanmar in the fiscal year of 2020, in which Myanmar’s nominal GDP was $81.26 billion and its purchasing power adjusted GDP was $279.14 billion. Myanmar has faced an economic crisis since the 2021 coup d'état.
Myanmar (Burma) and the United States had a diplomatic contact prior to the British colonial period. They established formal diplomatic relations in 1947 in anticipation of Burma's independence.
Tay Za is a Burmese business tycoon and the Chairman of Htoo Group of Companies, Myanmar. He is a close associate of the country's former head of state, Than Shwe. He is the first Myanmar entrepreneur to appear on the cover of Forbes Asia and is the richest man in Myanmar.
Myanma Oil and Gas Enterprise is a national oil and gas company of Myanmar. It was established in 1963. MOGE royalties and fees are estimated to generate US$1.5 billion in annual revenues, about half of the country's foreign currency reserves. The company is a sole operator of oil and gas exploration and production, as well as domestic gas transmission through a 1,200 miles (1,900 km) onshore pipeline grid.
The Htoo Group of Companies is a Burmese holding company, with headquarters at 5 Pyay Road, Hlaing Township, Yangon, Myanmar. HGC is the parent company of Air Bagan, a privately held Burmese airline company. The company has several subsidiaries. Htoo Wood Products Company Ltd. is engaged in logging and export of timber. Htoo Trading Company, is engaged in construction, property development, agriculture, transportation, shipping, mining, hotels and tourism operations. Htoo Trading Company and Asia World Company were the first two construction companies granted contracts to build the new national capital in Naypyidaw. Htoo Trading Company is Burma's top private exporter and fifth largest overall, with gross revenues of $65.1 million.
Myanma Economic Holdings Public Company Limited is one of two major conglomerates run by the Burmese military, the other being the Myanmar Economic Corporation (MEC). MEHL business interests include banking, construction, mining, agriculture, tobacco and food.
The Myanmar Economic Corporation is one of the two major conglomerates and holding companies operated by the Burmese military, the other being the Myanma Economic Holdings Limited. The U.S. Treasury Dept. reports that MEC "is a holding company with businesses in the mining, manufacturing, and telecommunications sectors, as well as companies that supply natural resources to the military, and operate factories producing goods for use by the military." As of August 2022, Nyo Saw is the chairman of MEC.
The jade trade in Myanmar consists of the mining, distribution, and manufacture of jadeite—a variety of jade—in the nation of Myanmar (Burma). The jadeite deposits found in Myanmar's northern regions are the source of the highest quality jadeite in the world, noted by sources in China going as far back as the 10th century. Chinese culture places significant weight on the meaning of jade; as their influence has grown in Myanmar, so has the jade industry and the practice of exporting the precious mineral.
Soe Htut is a Burmese military officer and former Minister for Home Affairs of Myanmar. Soe Htut is a career soldier, and currently holds the rank of Lieutenant General.
The State Administration Council is the military junta currently governing Myanmar, established by Commander-in-Chief of Defence Services Min Aung Hlaing following the February 2021 coup d'état and the declaration of a state of emergency by the National Defence and Security Council. Under the constitution, the Commander-in-Chief holds absolute legislative, executive, and judicial power during a state of emergency. Min Aung Hlaing has delegated his legislative power to the SAC, which he chairs. It has formed a provisional administration, also led by Min Aung Hlaing as Prime Minister of Myanmar.
Tin Aung San is a Burmese military officer who is currently serving as Deputy Prime Minister of Myanmar, member of State Administration Council (SAC) and the Minister of Defence.
Aung Lin Dwe is a Burmese army general who is the secretary of Myanmar's State Administration Council (SAC). He was appointed on 2 February 2021, in the aftermath of the 2021 Myanmar coup d'état. He was also the Judge Advocate General of the Tatmadaw and the secretary to the Peace Negotiation Committee.
The National Unity Government of the Republic of the Union of Myanmar is a Myanmar government in exile formed by the Committee Representing Pyidaungsu Hluttaw (CRPH), a group of elected lawmakers and members of parliament ousted in the 2021 Myanmar coup d'état. The European Parliament has recognized the NUG as the legitimate government of Myanmar. It includes representatives of the National League for Democracy, ethnic minority insurgent groups, and various minor parties.
Kyu Kyu Hla is the acting First Lady of Myanmar and Spouse of the Prime Minister of Myanmar. She a retired educator who served as lecturer at the Myanmar language department of Yangon University. Kyu Kyu Hla is the wife of Senior General Min Aung Hlaing, a Burmese army general who is the 12th Prime Minister of Myanmar and the current acting President of Myanmar since 22 July 2024.
Pwint San is now retired from his previous position Minister of Labour of Myanmar after he was dismissed from his duties in 2023. He was forced to serve as Minister for Commerce from 3 February 2021 to 19 August 2022 in the aftermath of the 2021 Myanmar coup d'état by the Burmese military.
Pye Phyo Tayza is a Burmese business tycoon and the managing director of the Htoo Group of Companies, a major crony conglomerate in Myanmar. He is the current president of Yangon United F.C. and vice president of Myanmar Football Federation, the governing body of football in Myanmar. Pye Phyo Tayza is the eldest son and heir of Tay Za, Myanmar's richest man.
Htun Aung is a Burmese air force officer. He currently serves as the Commander-in-Chief of the Myanmar Air Force.
Major General Zaw Hein, is a Burmese military officer and current commander of the Yangon Command.
Myanma Timber Enterprise is the national timber company of Myanmar. Founded in 1948 as the State Timber Board, MTE is a state-owned monopoly that regulates the harvest and sale of timber in the country, drawing a percentage of the country's total timber export revenue. Myanmar's forest product regulations deem only wood under the control of the MTE to be legal. The MTE has been accused of corruption, specifically of accepting bribes and subcontracting to allow illegal export of mislabeled or illegally logged wood, in violation of both Myanmar law and laws on timber import in the European Union and the US.
The 2023 Hpakant jade mine disaster occurred on August 13, 2023, when the Hpakant Jade Mines experienced the third documented landslide in the area. Hpakant is located in Kachin, Myanmar. The landslide killed 32 people when tailings swept the miners into a nearby lake. Myanmar is considered the sodium alumina silicate (jade) capital of the world because it has the highest concentration of jade. Hpakant provides 70% of the world's jade. It is estimated that Myanmar’s jade industry is worth more than 31 billion dollars annually, about half of its GDP. Despite the 1974 Nationalisation of Industry Act, most of Myanmar’s jade is sold illegally. Chinese companies work with the military to create untraceable Chinese-owned shell companies like Wai Kharmine. Myanmar’s jade industry is contentious because it degrades the environment and endangers miners, while supporting political turmoil by financially aiding the military junta (Tatmadaw) and ethnic militias.
References
- 1 2 3 4 "Treasury Sanctions Key Gems Enterprise in Burma". U.S. Department of the Treasury. 8 April 2021. Retrieved 28 March 2023.
- ↑ Kyaw Hsu Mon (4 July 2016). "Jade Sales Drop Significantly at Govt Emporium". The Irrawaddy. Retrieved 28 March 2023.
- ↑ "Myanmar: US hits state-owned gem company with sanctions". BBC News. 9 April 2021. Retrieved 28 March 2023.
- ↑ Hilson, G. M. (1 January 2003). The Socio-Economic Impacts of Artisanal and Small-Scale Mining in Developing Countries. Taylor & Francis. p. 46. ISBN 978-1-135-29122-8.
- ↑ "About MTE". Myanma Timber Enterprise. Retrieved 27 March 2023.
- ↑ "Myanmar Jade Industry Risks Becoming Regime's Slush Fund: Report". The Irrawaddy. 29 June 2021. Retrieved 28 March 2023.
- ↑ "Myanma Gems Enterprise". Open Sanctions. 21 June 2021. Retrieved 28 March 2023.
- ↑ "UK announces sanctions on gemstone company linked to the military regime in Myanmar". GOV.UK. 17 May 2021. Retrieved 28 March 2023.
