The Myanmar government plans to renegotiate billions of dollars of natural resource deals as it imposes tougher environmental standards and clamps down on … More  »

http://www.vinacomin.vn/en/news/Press-review/Burma-to-reconsider-energy-contracts-567.html  (Govt reconsider energy contracts)

Govt has invited foreign companies to submit expressions of interest by June 14 and the auction is expected to attract fierce competition. Amid signs that Myanmar is likely to review, and possibly renegotiate, existing natural resources deals as it prepares to sign up to the Norway-based Extractive Industries Transparency Initiative. (EITI). It  has signed by more than 30 countries, is a voluntary regime that sets high standards for financial disclosure, governance and environmental criteria. The World Bank and Australia are helping Myanmar’s govt prepare to meet EITI standards under aid programmes.

Naypyidaw - In  light of Myanmar’s growing environmental concerns and a new emphasis on ensuring contracts are more equitable, the govt is likely to reassess existing contracts for minerals, energy and other resources, said U Soe Thane, the minister who oversees foreign investment. “This is a very sensitive issue. We must be careful – we have to honour old contracts but we must review them.....

teeth54 thot - While everyone is seen to focus on Tel Co Industries. There is oso =ly oilly n gases play comin in.