Myanmar: Growing Number Of Foreign Firms Head For Door

Umer Jamshaid Published January 22, 2022 | 12:00 AM

Paris, (UrduPoint / Pakistan Point News - 21st Jan, 2022 ) :The announcements Friday by TotalEnergies and Chevron have swelled the ranks of foreign firms that have quit Myanmar after the February military coup.

As the civilian death toll from the military crackdown has surpassed 1,500 people, activists have ratcheted up pressure on foreign firms.

Investors piled into the country after the military relaxed its iron grip in 2011, paving the way for democratic reforms and economic liberalisation in the country of more than 50 million people.

They poured money into telecommunications, infrastructure, manufacturing and construction projects.

Now they face either pulling up sticks like TotalEnergies and Chevron, suspending operations, or continuing with business as usual.