DCSIMG

Administration Eases Financial and Investment Sanctions on Burma



The Burma Responsible Investment Reporting Requirements have received final approval from the Office of Management and Budget and have taken effect. The first submissions in response to the Reporting Requirements, which apply to U.S. persons with aggregate new investment in Burma over $500,000, will be due July 1, 2013.

U.S. persons are required to report on a range of policies and procedures with respect to their investments in Burma, including human rights, labor rights, land rights, community consultations and stakeholder engagement, environmental stewardship, anti-corruption, arrangements with security service providers, risk and impact assessment and mitigation, payments to the government, any investments with the Myanma Oil and Gas Enterprise (MOGE), and contact with the military or non-state armed groups.

The Department of State will use the information collected as a basis to conduct informed consultations with U.S. businesses to encourage and assist them to develop robust policies and procedures to address a range of impacts resulting from their investments and operations in Burma. We also intend the public report to empower civil society to take an active role in monitoring investment in Burma and to work with companies to promote investments that will enhance broad-based development and reinforce political and economic reform.

The United States supports the Burmese Government’s ongoing reform efforts, and believes that the participation of U.S. businesses in Burma’s economy can be a model for responsible investment and business operations, encouraging further change, promoting inclusive economic development, and contributing to the welfare of the Burmese people.

More information can be found in Department of Treasury General License No. 17, which authorizes new investment in Burma, and in the reporting requirements.


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