DCSIMG

Fact Sheet: Burma Responsible Investment Reporting Requirements



Background

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, supporting further positive change, promoting inclusive economic development, and contributing to the welfare of the Burmese people.

Last year the Administration eased sanctions in response to the historic reforms that have taken place in Burma, and authorized certain new investment by U.S. persons in Burma pursuant to General License 17, issued by the Department of the Treasury, Office of Foreign Assets Control (OFAC). As part of that easing and as a condition of the General License, the Department of State established Reporting Requirements for newly authorized investment in Burma.

What are the Burma Responsible Investment Reporting Requirements?

The Reporting Requirements comprise two separate requirements. First, they require any U.S. person (individual or entity) that has undertaken a new investment pursuant to an agreement or the exercise of rights under such agreement that is entered into with the Myanma Oil and Gas Enterprise (MOGE) to notify the Department of State in writing. Second, they require any U.S. persons whose aggregate investment in Burma exceeds $500,000 to submit an annual report detailing certain types of information concerning their investment, including information related to due diligence policies and procedures. U.S. persons are to submit two versions of the report: a public report to BurmaPublicReport@state.gov and a U.S. government report to BurmaUSGReport@state.gov; reports are due 180 days after the $500,000 threshold is reached and thereafter annually on July 1.

The public report requests information related to:

  • Overview of operations in Burma
  • Human Rights, worker rights, anti-corruption, and environmental policies and procedures
  • Arrangements with security providers
  • Property acquisition
  • Financial transparency

The U.S. government report requests additional information related to:

  • Communications with the military and armed groups
  • Risk prevention and mitigation

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.

More information can be found in General License No. 17, authorizing new investment in Burma, and in the Reporting Requirements themselves at www.HumanRights.gov/BurmaResponsibleInvestment.

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