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6 Sep 2016

Myanmar: Chinese investments to face tougher laws on social & environmental impacts

"While Myitsone is unique, the lessons it raises are relevant for other investors, particularly those companies – mostly Chinese…The first lesson is that there is now a legal framework for environmental and social protection in Myanmar…The second is that the public’s voice can now be heard…and it has power. It needs to be engaged, honestly, and listened to….The third lesson is that although the real cause of the problem is a poorly considered and executed government decision, the investor company will be blamed…Companies…should proactively respond to and disclose information, and map and engage with stakeholders at local and national level…Another essential step companies need to take to reduce their risk is due diligence…"