{"id":44117,"date":"2022-01-26T13:36:53","date_gmt":"2022-01-26T21:36:53","guid":{"rendered":"https:\/\/lapost.us\/?p=44117"},"modified":"2022-01-26T15:37:20","modified_gmt":"2022-01-26T23:37:20","slug":"business-advisory-for-burma","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=44117","title":{"rendered":"Business Advisory for Burma"},"content":{"rendered":"
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01\/26\/2022 10:55 AM EST<\/div>\n

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Ned Price, Department Spokesperson<\/p>\n

On February 1, 2021, Burma\u2019s military overthrew the country\u2019s democratically-elected civilian government in a coup d\u2019etat. Since then, the military has killed more than 1,400 innocent people, unjustly arrested political leaders and journalists, violently disbanded labor unions, and committed egregious human rights abuses against the people of Burma. These acts are an attack on the people of Burma and a rejection of their will, as expressed in Burma\u2019s November 2020 general elections.<\/p>\n

The coup and subsequent military-led abuses have severely damaged Burma\u2019s economic and business environment, reversing the gains achieved over the course of Burma\u2019s ten-year transition towards democracy, and resulting in an unpredictable business environment in which the military extracts revenue to support its violent repression of democracy.<\/p>\n

Today, the U.S. Departments State, Commerce, Homeland Security, Labor, the Treasury, and the Office of the U.S. Trade Representative are issuing this advisory to inform individuals, businesses, financial institutions, and other persons \u2014 including investors, consultants, and research service providers \u2014 of the heightened risks associated with doing business in Burma, and particularly business activity that could benefit the Burmese military regime.<\/p>\n

The United States does not seek to curtail legitimate business and responsible investment in Burma. However, businesses and individuals should be wary of the associated illicit finance and money laundering risks, as well as reputational and legal risks, of conducting business and utilizing supply chains under military control in Burma. The military regime has undermined the rule of law, facilitated widespread corruption, and committed serious human rights abuses, which exacerbate risks to foreign businesses operating in Burma or providing financial services to Burmese businesses.<\/p>\n

These industries have been identified as primary industries providing economic resources for Burma\u2019s military regime:<\/p>\n