The recently launched Myanmar Foreign Investment Tracking Project’s initial results are disappointing:
PRESS RELEASE: Most foreign investors in Myanmar silent or evasive when asked about their human rights commitments
Amid rights concerns linked to investment surge, too few companies publicly discuss their human rights policies and due diligence efforts.
Myanmar, 17 February 2015 – Only a handful of foreign companies investing in Myanmar were able to point to substantive actions when invited to publicly respond to questions on their human rights commitments in Myanmar, Business & Human Rights Resource Centre reports today after reaching out to over 100 companies through its Myanmar Foreign Investment Tracking Project.
Fifty-seven of the 108 companies approached responded, and only 24 of them referred to human rights policies with respect to their investments or activities in Myanmar. Even fewer described undertaking due diligence efforts prior to investing. These findings echo concerns raised by local communities and human rights organizations that human rights issues are not being adequately addressed as foreign companies invest in the resource-rich country.