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US raises investment reporting threshold
Author: Sean Gleeson, Frontier Myanmar, Published on: 1 July 2016
The United States has enacted provisions to significantly raise reporting requirements for American investors in Myanmar... American companies investing more US$5 million in Myanmar will be required to file annual reports outlining their activities in the country, 10 times higher than the previous threshold enacted in 2013.
All firms operating in the oil and gas sector will remain subject to the...Reporting Requirements...regardless of the level of investment.
Rights groups had petitioned against any changes... DVB reported on Thursday that Earth Rights International had lodged a Freedom of Information request to seek publication of submissions made in favour of raised investment threshold by the US Chamber of Commerce and its Myanmar affiliate...
During its annual review of the Specially Designated Nationals list, which prohibits US investment with over 100 Myanmar individuals and entities, OFAC lifted sanctions against the Myanma Economic Bank and two other state-owned lenders...