The Beneficial Ownership Disclosure Press Conference held in Yangon to raise awareness the transparency of the mining process and to implement the international standard economic industry in Myanmar

Myanmar Extractive Industries Transparency Initiative-MEITI organized the Beneficial Ownership Disclosure Press Conference in Yangon on 28th February.

The conference aims to raise awareness the transparency of the mining processes in Myanmar and to implement the international standard economic industry in cooperation with DICA.

According to the conference, Myanmar has been implementing Beneficial Ownership under its EITI process which was launched in Myanmar since 2012. Beneficial Ownership- BO Roadmap was submitted to International Secretary General Office led by MEITI in 2016 and Beneficial Ownership Taskforce was also founded in 2018.

The Beneficial Ownership Taskforce is responsible to release the data of the beneficial owners who have the connection with the persons in high position of political power to the public. Under the oversight of Beneficial Ownership Task Force and its focal agency DICA, the beneficial Ownership data collection Phase (1) was initiated with 158 extractive companies and 5 extractive state-owned enterprises in 2019. After that, MEITI has published the collected Beneficial Ownership Data to the public.

At the conference, the officials and representatives from DICA and Beneficial Ownership Task force also held the panel discussion which mainly highlighted for more transparency in mining processes according to the EITI standard. It’s learnt that the new rules and regulations for mining industry will be released next years. 

(Myanmar International TV Channel: https://www.myanmaritv.com/news/press-conference-beneficial-ownership-disclosure-press-conference-held )

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