Turmoil at the top prompts business uncertainty
In Myanmar’s business environment, where many prominent firms have close ties to officialdom, political developments at the top can have major ramifications for the economy.
It remains to be seen how significantly the political turmoil that recently engulfed Myanmar’s ruling party will play out in Myanmar’s business sector.
When Union Parliament Speaker Shwe Mann was ousted from the leadership of the Union Solidarity and Development Party, local businesses feared the potential economic fallout as the former chairman’s two sons are part of a wide business network. Speculation was rife that the government might probe the Shwe Mann family’s business empire, following junta-era strategies of the past in an attempt to discredit the embattled former general.
