Business & Economy

Myanmar’s military ruler seeks foreign investment

Moscow, Sep 7 (EFE).- Myanmar’s military ruler Wednesday sought foreign investment in the strife-torn country, slamming Western powers for the weaponization of the US dollar to intimidate other countries.

Min Aung Hlaing advocated replacing the dollar in international trade with national currencies, including the ruble or the rupee, to enable small countries to overcome financial difficulties.

He spoke at the plenary session of the 7th Eastern Economic Forum in the Far Eastern Russian city of Vladivostok.

Delegations from China, India, and Nicaragua are attending the forum clouded by the Russian invasion of Ukraine.

Min Aung Hlaing sought foreign investment in Myanmar and assured a safe environment in a country battling social, economic, and political crises in the wake of the February 2021 coup.

The military general, who declared himself prime minister after ousting the democratically elected government of Aung San Suu Kyi in a military coup, said he had come to the forum with guarantees to potential investors.

He said his country is rich in resources like copper, iron ore, and tin.

Min Aung Hlaing argued that a trade and investment alliance would contribute to a dialog between the Eastern countries and provide a counterweight to the West.

Some 5,000 people from over 60 countries are participating in the forum.

According to the organizers, the largest delegations are from China, Myanmar, Mongolia, and India. EFE


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