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NLD outlines four principles for foreign investment
Irrawaddy - January 5, 2011
Htet Aung – Burma's leading democratic opposition party, the National League for Democracy (NLD), has outlined four principles for foreign investment in the country and reaffirmed its stand on the need to review existing economic sanctions for the benefit of the people, according to a party policy statement.
"Consideration of environmental and social impacts on the people, respect for labor rights, the creation of job opportunities and technically advanced investments" are the four main priorities of the party's foreign investment policy, said the statement, which was titled "Economic Analysis" and released on Jan. 4, Burma's Independence Day.
The statement also highlighted the need to address rising commodity prices and increasing joblessness due to the unequal distribution of wealth in the country.
Asked whether the party has begun to consider welcoming foreign direct investment to the country based on these principles, Win Tin, the secretary of the NLD, told The Irrawaddy: "First we want to review the impact of the sanctions on ordinary citizens. We have already said that if we find that they negatively impact the people, we will consider calling for an end to sanctions."
He added that if the sanctions are lifted, "These four principles will be our guideline to decide whether which investments we should accept."
He further explained that the NLD set these four principles not only to reduce the negative impacts of foreign investments on the environment of the country but also to protect the people's social and economic life.
"An example is Chinese investment in the construction of the Myitsone dam at the confluence of the N'mai and Mali rivers, where the Irrawaddy River begins," said Win Tin. "The Irrawaddy is our country's main river and building such a dam could have negative environmental and social consequences for the country and the people."
Win Tin also expressed concern that China's investment in Burma did little to alleviate unemployment because Chinese companies often brought their own laborers to work on their projects. Another problem, he said, was that local people are often forced to relocate because of these projects, affecting their livelihoods.
The NLD's policy statement criticized most current investment in Burma for prioritizing short-term profit and failing to consider the sustainable development of the country.
The statement pointed out that building a lot of dams, reservoirs and river bridges without considering the environment and the livelihoods of local people often did more harm than good. In many cases, cultivated lands have been damaged by these projects and farmers have lost their capital because they are forced to grow crops that are not suitable in the land and weather.
The statement also highlighted the need to establish the rule of law and transparent, accountable governance in Burma. It said that the economy must be equally open to all citizens if Burma is to develop economically.
"To build an industrialized country, there must be investments which encourage a transfer of advanced technologies, but we get nothing from China's investments," said Win Tin.
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