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Western sanctions against Myanmar’s economy affect only private businesses not the government: Union Minister U Aung Naing Oo

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MIFER Union Minister U Aung Naing Oo.

The impact of Western sanctions on Myanmar’s economy, the sanctions do not affect the government. Still, it only affects private businesses, said Union Minister for Investment and Foreign Economic Relations U Aung Naing Oo during a virtual interview with Xinhua News Agency on 21 April.
Being unable to use the US dollar and transfer money challenges Myanmar business people.
As a result of sanctions, there are factory closures which have resulted in the loss of job opportunities for Myanmar citizens.
Nothing happened to the government. The government has already made the necessary preparations.
He said the blockade had improved Myanmar’s economic cooperation with neighbouring countries.
Due to the recent political instability in Myanmar, there are IDPs in the neighbouring countries, and that causes difficulties in bilateral cooperation.
For example, due to the unrest in the Thai-Myanmar border area, he elaborated that the failure to use the Asian Highway fully and safely hampered the Thai-Myanmar exports/imports affecting neighbouring Thailand. —MNA

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