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Article

27 Sep 2007

Author:
BBC Newsnight

British investment in Burma

[The BBC]...reported claims that the government has not stopped British companies trading with the Burmese regime and that Britain is the second biggest foreign investor in that country...[The foreign office says:] "The Burmese authorities...figures...are bogus and misleading. We believe the figure...includes planned investments dating back many decades by companies such as Premier Oil and British American Tobacco who have since withdrawn...in 2005, the DTI recorded UK foreign direct investment flows into Burma as negligible..."...[Response from Burma Campaign:] "...The £1.2bn estimate of UK investment...is a cumulative total...Given the significant investments made directly by companies such as Premier Oil, and by British subsidiary offices of foreign companies such as Total Oil, the figures do seem to be reasonable estimates. British American Tobacco channelled its investment via a subsidiary in Singapore...[also refers to Unocal (now Chevron), Shincorp]