Myanmar, China Launch Investment Body Under Junta Cronies’ Oversight

Myanmar and China have launched a new business association with the goal of luring about half a trillion US dollars in Chinese investment to Myanmar by the end of the decade under the supervision of prominent junta cronies including Aung Ko Win of KBZ Group and Kyaw Win of Shwe Than Lwin Group.

The launch ceremony of the Myanmar-China Investment and Trade Promotion Association (MCITP) in Yangon on Saturday came shortly after the conclusion of the Myanmar junta’s staged, three-phase election, which was dominated by the junta-backed Union Solidarity and Development Party, and received public endorsement from Beijing. The body was officially established in October.

Chinese Ambassador to Myanmar Ma Jia said at the event that she hoped the association would become a “catalyst” and “stabilizer” of economic and trade cooperation between the two countries, according to the Chinese Embassy in Myanmar.