NUG warns foreign investors against economic deals with Myanmar junta

Mizzima

National Unity Government (NUG) said on 25 June that any economic and investment agreements concluded with the military junta lack democratic legitimacy and public oversight, warning that such arrangements “may be subject to significant legal, financial, and operational risks” both now and in the future.

In a statement issued through its Ministry of Foreign Affairs, the NUG said it was setting out its position on engagements by neighbouring countries, international partners, and organisations that could be seen as reflecting partnership with what it called the “terrorist military coup leader,” as well as on new investments and economic and infrastructure agreements in Myanmar.

The NUG said Myanmar’s long-term stability and economic development depend on a “legitimate and accountable system of governance that reflects the will of the people,” and said prioritising engagement with the junta would not help resolve the country’s crisis. Such engagement, it said, risks emboldening the junta and worsening its campaign of violence and repression. The statement referred to the junta’s electoral process as a “sham.”

The NUG called for any international investment in Myanmar to be guided by transparency, accountability, respect for human rights, and consideration of the interests of local communities, and said it continued to attach importance to Myanmar’s sovereignty and to fostering relations with the international community on the basis of mutual respect.

The statement did not name specific countries, companies, or agreements. It said the NUG remained open to cooperation with international partners and neighbouring countries on matters such as border stability and transnational crime, provided such cooperation respects the will of the people of Myanmar.