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U MAUNG KO



U Maung Ko[ဦးမောင်ကို], the chairman of Myanmar Federation of Mining Association (CEC) He was interviewed by Oxford Business Group in 2011.

He articulated in the interview that the mining sector of Myanmar has improved extravagantly over the past couple years, thanks to the ongoing democratic reform. He included that Myanmar will undoubtedly have a positive impact on the business environment years ahead; foreigners have been investing in the country as well.

He was asked whether or not he liked the new mining law and what impact he expects from it.

He replied with

Quote, “The current law, enacted in 1994, may have been appropriate at the time; however, when compared to today’s international mining legislation, it appears very unattractive. The government is working alongside the World Bank and local and international experts to revamp the law accordingly. The government also invited the CEC and local mining businesses to join discussions on the development of the new mining law. Likewise, the CEC has consulted with a panel of experts that can also assist the government.

The association first sat down with the Ministry of Mines (MoM) to discuss recommended amendments. Then, after lengthy discussion and consultation, the first draft was submitted to parliament and is now under discussion by the upper and lower houses. Parliament must first approve changes in the law, at which point the CEC and the MoM will submit the proposed new law to parliament. If approved, which is expected in FY 2014/15, it must be enacted within 90 days.

The dynamic new law will cover many areas, including environmental impact, and will be in line with laws in established mining countries like Australia and Canada. Furthermore, I believe that the law will generate a huge influx of foreign investment once enacted.”