Wednesday 13 March 2013

Energy sector to be transparent: Minister says

The union minister for energy Than Htay said the ministry is going to push for greater transparency energy sector to instill confience among foreign and local investors.

"We welcome investors through out the world who are interested in investing in Myanmar oil and gas sector. Myanmar is working to become a member of Extractive Industries Transparency Initiative (EITI)," the union minister told the Myanmar Upstream Summit 2013 last week.

He said over100 oil and gas investors, including U.S-based Chevron and Conono Phillips, have been carrying out talks with Myanmar authorities.

New foreign investment law, tax exemptions and relief, cheap labors and rich natural resources are attracted to foreign investors to invest in Myanmar after the sanctions were lifted and eased.

source: Eleven Myanmar

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