YANGON/BANGKOK – Myanmar’s military regime is tightening its grip on a range of industries from retail to real estate as the country grapples with inflation and capital outflows, though its crackdown appears to be exacerbating economic turmoil.
In June, Myanmar authorities arrested Hiroshi Kasamatsu, an executive at a local venture of Japanese retailer Aeon, on charges of violating rice pricing rules. He was charged on July 11, dashing hopes of a quick release.