Over 40 civil society organizations (CSOs), activists, and political parties based in Burma and along its border with Thailand submitted recommendations to the United States government urging continued and strengthened transparency in the U.S.’s Reporting Requirements on Responsible Investment in Burma, according to the U.S. Campaign for Burma.
“[The reporting] requires any U.S. company investing US $ 500,000 or more [in Burma] to submit reports to the U.S. government. They have to report about their business, human rights issues, anti-corruption, and environmental issues. They also have to report who they partner with. But so far, some companies report well, and some report badly,” said Myra Dahgaypaw, Policy Advisor for the U.S. Campaign for Burma, in an interview with MNA.
The U.S. government has authorized domestic companies to invest in Burma since 2012, after sanctions imposed in the 1990s were eased. However, investments are subject to certain limitations and requirements that oblige U.S. entities to submit reports to the Department of State when investing in the country’s oil and gas sector or once the US $ 500,000 threshold is reached.
According to the U.S. Campaign for Burma, only eight of the required 11 reporting questions must be answered in a publically available report. The other three, that include information about companies’ communications with the Burmese military and steps taken to minimize human rights and environmental risks, can be submitted confidentially to the U.S. government.
“Not revealing the [responses] to all questions is what makes problems for activists and advocates like us: CSOs and other organizations underground. We want to ask the U.S. government for all questions to be made public so that we, as advocates, will know who the American companies partner with,” said Myra Dahgaypaw.
Last Monday, a representative from the U.S Campaign for Burma met with members of civil society in Mon State to discuss the reporting requirements. The advocacy group urged attendees to communicate their views to the U.S. government, particularly regarding renewal of the reporting requirements and ensuring that investments contribute to the country’s development.
“On this reporting requirement, we stand with the U.S. Campaign for Burma. We must send our voices to the U.S. government because it is important for accountability and transparency in our country. The U.S. government should not stop these reporting requirements yet. It should also not lift all the sanctions on Burma yet,” said Mi Cherry Soe of the Jeepya Social Development Organization, who met with the group on January 25.
U.S. companies are expected to submit reports within 180 days of investing US $ 500,000 as well as annually on July 1, according to ‘General License No. 17’ issued by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) in July 2012.
