Myanmar 20241203: Sui Generis, Unyielding, Ominous
Mekong Memo Myanmar Weekly: Business, politics, finance, trade & legal news.
Southeast Asian business news delivered to your inbox every weekday with the Mekong Memo.
The Memo is published each weekday for the countries of your choice. Paid subscriptions receive full editions while free subscribers usually only get top headlines and the first few stories. We can’t do this without your support, so please consider a paid subscription.
The Mekong Memo is proudly presented by:
Horton International is your premier partner for executive search in Southeast Asia. Whether you're a small startup or a global corporation, our reliable and effective recruiting solutions are tailored to meet your unique needs. With extensive experience and offices across the region, we excel at overcoming recruitment challenges and securing top talent for your organization.
Click here to learn how Horton can make your life easier.
Here is this week’s edition of the Mekong Memo for Myanmar.
If you appreciate the work that goes into preparing The Memo (and the time it saves you!), please consider a paid subscription to support our efforts. Thank you.
Headlines:
ICC Hunts Top Myanmar Brass
China Beefs up Security Presence
Rebels on a Roll
Banks Go Bust in Rakhine
Foreign Cash Flow Hits Rock Bottom
Labor Market Gets a Makeover
Tourism Takes Baby Steps with Chinese Help
Secret Cables Caught Illegally Crossing Border
Youth Movement Won't Back Down
Insurance Industry Gets the Jitters
Thai-Myanmar Diplomatic Shuffle Continues
Frontier Boss Calls It Quits
Civilians Forced to Clear Mines
Japan's Money Trail Raises Eyebrows
ICC Hunts Top Myanmar Brass
The International Criminal Court prosecutor Karim Khan has asked for an arrest warrant for Myanmar's military commander-in-chief, Senior General Min Aung Hlaing, for crimes against humanity. The charges relate to deportation and persecution of the Rohingya people. This is the ICC's first action against Myanmar. China stands in opposition to the move, saying that the ICC lacks jurisdiction over Myanmar as a non-member state. A panel of three ICC judges will review evidence to determine if Min Aung Hlaing should be held accountable.
Read more: Newsweek (ICC Actions), Reuters (Rohingya Case Details)
China Beefs up Security Presence
China and Myanmar's military government are putting together a joint security company to protect Chinese investments from rebel attacks as Chinese companies face increasing threats to their $21 billion investment portfolio, including some big infrastructure projects. The deployment of Chinese security personnel is going to cause bigger concerns about escalating the civil war and is an important shift in China's approach to protecting its interests in Myanmar.
Read more: Asia Nikkei (Investment Protection), SCMP (Security Risks)
Rebels on a Roll
The Chin National Army and allied forces have captured four regime outposts on the Timit Plain between Hakha and Thantlang. Resistance groups now control roughly 70% of the country, with the conflict expanding beyond ethnic militias to include the Bamar majority and urban People's Defence Forces. Two full regions have now fallen under near-complete rebel control.
Read more: The Irrawaddy (Military Operations), Scroll.in (Territorial Control)
Banks Go Bust in Rakhine
Rakhine State's banking system has collapsed due to widespread infrastructure disruptions thanks to the ongoing conflict between the military regime and the Arakan Army. The breakdown has paralyzed financial transactions and commerce in the region, adding to the mountain of challenges faced by local residents and businesses.
Read more: The Irrawaddy
Foreign Cash Flow Hits Rock Bottom
Myanmar's foreign investment has reached its lowest level since the 2021 coup, according to data from the junta-controlled Directorate of Investment and Company Administration. The decline is no big surprise as the nation continues to suffer growing international isolation and deteriorating business conditions under military rule.
Read more: Myanmar Now
Labor Market Gets a Makeover
The military regime plans to expand worker deployment to China and Russia, prioritizing labor exports to countries keeping friendly relations as others continue to give the cold shoulder. Japanese companies are increasingly seeking to hire Myanmar workers who have fled since the military coup. Labor tensions remain high in some quarters - this week approximately 500 workers at Charis Sculpture factory in Yangon are striking, calling for wage increases and a reinstatement of fired colleagues.
Read more: Myanmar Now (Worker Deployment), NHK World (Japanese Employment), Solidarity Center (Factory Strike)
Tourism Takes Baby Steps with Chinese Help
China-funded training programs in Yangon are helping bring new life to Myanmar's tourism sector through professional development initiatives. The programs, funded by the China Foundation for Rural Development and organized by the Myanmar Tourism Federation, includes seven courses covering digital skills, tour operations, and hospitality training.
Read more: China Daily
Secret Cables Caught Illegally Crossing Border
Authorities in Thailand dismantled a network of illegal high-speed internet cables installed on the Thai-Myanmar Friendship Bridge in Mae Sot. The 16 large fiber optic cables, capable of transmitting signals over hundreds of kilometers, were linked to call center scams operating in Myanmar. The discovery, part of a larger investigation into cross-border telecom crimes, shows the extent of the use of infrastructure by criminal networks. Cutting the cables disrupted internet access to the scammers, reportedly hampering their operations.
Read more: Bangkok Post
Youth Movement Won't Back Down
The Civil Disobedience Movement continues to challenge military rule, with thousands of state workers maintaining strikes started in the wake of the 2021 coup. Gen Z youth have come out as a driving force, with more than 250 People's Defense Forces formed since the coup. Many young adults have left civilian life to join the resistance.
Read more: The Diplomat (Movement Overview), RFA (Youth Resistance)
Insurance Industry Gets the Jitters
KBZ Life is reporting that Myanmar's life insurance industry has seen decent growth over the past four years but still faces major economic and political challenges in 2025. The sector's outlook is indicative of broader economic uncertainties under military rule. The industry is small, but growing.
Read more: Asia Insurance Review
Thai-Myanmar Diplomatic Shuffle Continues
The Center for Strategic Policy has wrapped up a study looking at Thailand-Myanmar relations during Myanmar's ongoing political crisis. Recent talks between Thai diplomat Dusit Manapan and Myanmar's junta Foreign Minister Than Swe took place as Thailand called on the United Wa State Army to relocate nine military bases allegedly encroaching on Thai territory.
Read more: The Nation Thailand (Relations Study), The Irrawaddy (Border Tensions)
Frontier Boss Calls It Quits
Frontier co-founder Sonny Swe has announced plans to step down as CEO after nearly a decade leading the news organization. The leadership transition comes during challenging times for media operations in Myanmar, and in the wake of a visit of Sunny’s father, Thein Swe (a former senior member of Myanmar’s military intelligence agency) to Beijing for visits with Chinese thinktanks in late October.
Read more: Frontier Myanmar
Civilians Forced to Clear Mines
Myanmar's junta forces are reportedly compelling local villagers to conduct landmine clearance operations, effectively using them as human minesweepers. The practice adds to the growing list of human rights violations the country has seen under the thumb of the ruling military.
Read more: UCA News
Japan's Money Trail Raises Eyebrows
More than three and a half years after the military coup, Japan continues providing Official Development Assistance and public funds that seem to be to the benefit of the military junta. Critics are calling for an end to Japanese loans supporting the Tatmadaw regime.
Read more: Bangkok Post
That’s it for this week… THANK YOU.
Your voice matters to us. Feel we're missing something? Have additional sources to suggest? Don't hold back— reply and tell us what you think.
If you value the Mekong Memo, please consider buying (or gifting!) a paid subscription, sharing it on social media or forwarding this email to someone who might enjoy it. You can also “like” this newsletter by clicking the ❤️ below (or sometimes above, depending on the platform), which helps us get visibility on Substack.