Suu Kyi Warns Investors Off Myanmar’s State Oil & Gas Firm
Myanmar’s Nobel Peace Prize winner Aung San Suu Kyi urged foreign governments not to allow their companies to do joint ventures with the state-owned oil and gas company until it improved transparency and accountability.
Suu Kyi, speaking to the International Labour Organization (ILO) in Geneva on Thursday, said: “The Myanmar Oil and Gas Enterprise (MOGE)… with which all foreign participation in the energy sector takes place through joint venture arrangements, lacks both transparency and accountability at present.”
“The (Myanmar) government needs to apply internationally recognised standards such as the IMF code of good practices on fiscal transparency. Other countries could help by not allowing their own companies to partner MOGE unless it was signed up to such codes,” she said.