279:, in which the Tatmadaw seized power from the elected civilian government, the United States sanctioned MEC, March 25, 2021, for the company's association with, and support of, the Tatmadaw, -- impounding U.S.-held assets of the company, and forbidding U.S. nationals from doing business with them.
184:
that can provide the
Burmese military access to supplies of important materials (e.g. cement and rubber), MEC's operations are shrouded in secrecy. Revenues generated from MEC have strengthened the Burmese military's autonomy from civilian oversight, and has contributed to the military's financial
263:
The corporation's capital was established through revenues generated from the public auctioning of state-owned enterprises throughout the 1990s. Through joint ventures with foreign companies and mergers with smaller companies, MEC has positioned itself as one of Burma's largest corporations.
169:. The U.S. Treasury Dept. reports that MEC "is a holding company with businesses in the mining, manufacturing, and telecommunications sectors, as well as companies that supply natural resources to the military, and operate factories producing goods for use by the military." As of August 2022,
696:"Burma-related Designations, Designation Update and Designation Removal; Global Magnitsky Designation Update; Counter Terrorism Designation Update; Issuance of Burma-Related General Licenses and Associated Frequently Asked Questions"
362:
772:
528:
373:
201:(UMEHL), MEC is widely observed to generate most of the Burmese military's operating revenue, which are not held accountable to the Burmese parliament, the
233:
In 2009, MEC had 21 factories, including 4 steel plants, a bank, a cement plant and an insurance monopoly. Its headquarters are located on Ahlon Road in
777:
767:
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301:
241:. MEC has remained on the United States' list of sanctioned companies due to its affiliation to the Burmese military. MEC also operates
747:
536:
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427:
401:
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260:'s Directorate of Defence Procurement (DPP), with its private shares exclusively owned by active-duty military personnel.
198:
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MEC is led by high-ranking
Burmese military officials, including members of the ruling military junta, the
257:
70:
589:
245:, one of Burma's few banking chains. A subsidiary of MEC, Star High Public Company, owns 28% of
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154:
42:
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operations in "a wide array of international human rights and humanitarian law violations."
8:
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508:
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181:
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249:, one of Myanmar's largest telecommunications company, in a joint venture with
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In 2000, MEC launched
Cybermec Information Technology Center, an IT venture.
218:
242:
113:
108:
302:"U.S. sanctions companies that back Myanmar military following coup,"
722:
316:
314:
194:
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590:"Administration Eases Financial and Investment Sanctions on Burma"
193:
MEC is owned by the
Burmese military, and is influenced by senior
250:
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170:
100:
87:
311:
372:(231). International Crisis Group. 27 July 2012. Archived from
234:
81:
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246:
124:
453:"Min Aung Hlaing and His Generals: Some Biographical Notes"
305:
289:
321:"Treasury Sanctions Military Holding Companies in Burma,"
773:
Specially
Designated Nationals and Blocked Persons List
479:"VP pushed out over corruption, resistance to reforms"
428:"Junta stocking up on weapons for rainy day: observer"
221:, a MEC director. The former Vice-President of Burma,
225:, is a former Myanmar Economic Corporation chairman.
338:"Myanmar Military's Business Supremo in Spotlight"
739:
30:
402:"Economic interests of the Myanmar military"
505:Burma/Myanmar: What Everyone Needs to Know
363:"Myanmar: The Politics of Economic Reform"
502:
617:Asian Strategic And Military Perspective
596:. United States Government. 11 July 2012
496:
304:March 25, 2021, updated March 26, 2021,
642:
560:"Reporting rules for US firms revealed"
476:
740:
645:"Waiting for an Industrial Revolution"
638:
636:
425:
778:Entities related to Myanmar sanctions
768:Government-owned companies of Myanmar
758:Holding companies established in 1997
614:
608:
557:
419:
228:
477:Heather, Victoria (3 October 2012).
396:
394:
633:
615:Singh, Ravi Shekhar Narain (2005).
406:United Nations Human Rights Council
13:
619:. Lancer Publishers. p. 209.
355:
199:Union of Myanmar Economic Holdings
14:
789:
748:Conglomerate companies of Myanmar
728:Myanmar Economic Holdings Limited
535:. U.S. Government. Archived from
391:
147:မြန်မာ့စီးပွားရေး ကော်ပိုရေးရှင်း
32:မြန်မာ့စီးပွားရေး ကော်ပိုရေးရှင်း
558:Bruce, Victoria (16 July 2012).
167:Myanma Economic Holdings Limited
700:U.S. Department of the Treasury
688:
662:
582:
551:
521:
325:U.S. Department of the Treasury
763:1997 establishments in Myanmar
529:"MYANMAR ECONOMIC CORPORATION"
470:
445:
330:
176:Founded in 1997 by Lt General
1:
282:
208:
753:Military industry in Myanmar
676:. The Irrawaddy. August 2000
533:Excluded Parties List System
503:Steinberg, David I. (2009).
215:State Administration Council
188:
139:Myanmar Economic Corporation
20:Myanmar Economic Corporation
16:Burmese military corporation
7:
716:
507:. Oxford University Press.
426:Mungpi (24 December 2009).
71:Ministry of Defence (Burma)
54:; 27 years ago
10:
794:
327:, retrieved March 29, 2021
308:, retrieved March 29, 2021
270:
256:MEC is operated under the
153:) is one of the two major
483:Democratic Voice of Burma
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277:2021 Myanmar coup d'état
275:Following the February,
180:to establish profitable
173:is the chairman of MEC.
670:"Generals invest in IT"
643:Min Zin (August 2003).
165:, the other being the
197:leaders. Along with
733:Ministry of Defence
379:on 2 September 2012
300:Nunley, Christian:
258:Ministry of Defence
21:
539:on 26 October 2011
229:Business interests
203:Pyidaungsu Hluttaw
52:February 1997
19:
223:Tin Aung Myint Oo
159:holding companies
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323:March 25, 2021,
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182:heavy industries
163:Burmese military
161:operated by the
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239:Ahlon Township
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155:conglomerates
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703:. Retrieved
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598:. Retrieved
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572:. Retrieved
568:the original
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543:30 September
541:. Retrieved
537:the original
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486:. Retrieved
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461:. Retrieved
459:. 2021-08-04
456:
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435:. Retrieved
431:
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410:. Retrieved
408:. 2019-09-16
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381:. Retrieved
374:the original
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346:. Retrieved
344:. 2022-08-17
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217:, including
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109:Subsidiaries
77:Headquarters
43:Conglomerate
370:Asia Report
127:.mecwebsite
26:Native name
742:Categories
705:2022-08-04
463:2022-09-26
412:2020-06-07
348:2023-01-27
283:References
243:Innwa Bank
209:Leadership
114:Innwa Bank
103:, chairman
96:Key people
680:3 October
654:3 October
649:Irrawaddy
600:3 October
574:3 October
488:3 October
437:3 October
383:3 October
189:Ownership
723:Tatmadaw
717:See also
674:Business
195:Tatmadaw
39:Industry
457:FULCRUM
271:History
251:Viettel
178:Tin Hla
171:Nyo Saw
143:Burmese
120:Website
101:Nyo Saw
88:Myanmar
67:Founder
59:1997-02
57: (
49:Founded
623:
511:
432:Mizzma
235:Yangon
82:Yangon
377:(PDF)
366:(PDF)
247:Mytel
682:2012
656:2012
621:ISBN
602:2012
576:2012
545:2012
509:ISBN
490:2012
439:2012
385:2012
306:CNBC
157:and
137:The
129:.com
237:'s
205:.
151:MEC
125:www
744::
698:.
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635:^
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562:.
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393:^
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313:^
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141:(
61:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.