‘Riding a rollercoaster’ in Myanmar’s post-coup economy | Business and Economy News

Bangkok/Yangon – For Aung Thet, a successful entrepreneur in Yangon, running a business under Myanmar’s military regime feels like “riding a rollercoaster”.

The Southeast Asian country’s economy has been brought to its knees by the conflict triggered by the military’s power grab two years ago.

Foreign investors have headed for the exits and the generals have forced companies like Aung Thet’s to convert their foreign exchange accounts into Myanmar kyat. Criticism of the military administration is not tolerated.

“It’s a very hostile environment for businesspeople and the risks for speaking out on policy issues are high,” Aung Thet, who asked to speak under a pseudonym, told Al Jazeera. “Even the national business lobby doesn’t have much clout over the junta’s economic policies. They could be brutal to businesspeople who voiced their criticisms.”

In some…