Monday, December 17, 2012

Natural resources committee formed in Naypyitaw

Monday, 17 December 2012 00:00 Khin Myo Thwe

As per orders issued by the President’s Office in Naypyitaw, the Extractive Industry Transparency Initiative (EITI) leading authority was formed on December 14.

Burma’s government says it has established the EITI leading authority to ensure better management of industries involved in the extraction of natural resources, and says it will help develop a good investment environment, create opportunities for frank and transparent discussions between private investors and the people involved, and will act as a mechanism to join hands with the private sector.

The committee is to be headed by President’s Office Minister Soe Thein, and will include among its members Environmental Conservation Minister Win Tun, Energy Minister Than Htay, and Dr. Myint Aung from the Mining Ministry. The Ministry of Finance’s Win Shin will act as Secretary.

The government said it hopes the committee can become a member of the international Extractive Industry Transparency Initiative and be awarded the status of a Candidate Member.

One of its official tasks is to initiate a series of reform processes within the industry that will be conducive to sustainable development as well as economic development.

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