Reminder: Annual Burma Responsible Investment Reports Must be Submitted to State Department on July 1, 2013
The State Department's Burma (Myanmar) Responsible Investment Reporting Requirements have received final approval from the Office of Management and Budget and U.S. persons having an aggregate new investment in Burma over $500,000 must submit their first annual report by July 1, 2013.
By way of background, when the State Department announced on May 2012 that the U.S. would suspend sanctions on Burma, the U.S. Government stated that it would require U.S. companies that engaged in new investment in Burma exceeding $500,000 per year to submit an annual “Responsible Investment” report to the State Department.
The Responsible Investment reports, which must be filed electronically with the State Department, include information on a wide range of policies and procedures with respect to their investments in Burma, including human rights, labor rights, land rights, community consultations and stakeholder engagement, environmental stewardship, anti-corruption, arrangements with security service providers, risk and impact assessment and mitigation, payments to the government, any investments with the Myanma Oil and Gas Enterprise (MOGE), and contact with the military or non-state armed groups.
The State Department will use the confidential and public versions of the reports that are submitted to conduct consultations with U.S. businesses to encourage and assist them to develop policies and procedures to address various issues resulting from their investments and operations in Burma. The State Department will also issue a public report on the various efforts undertaken by U.S. companies in Burma.
The full text of the of the Burma Responsible Investment Reporting Requirements can be found here.
OFAC's General License No. 17 that authorized new investment in Burma can be found here.