The majority of contracts in two big government energy tenders have gone to Chinese firms
last year, Aung San Suu Kyi, Myanmar’s president in all but name, laid out the many reforms her government had undertaken to attract foreign investors. In return, she went on, “we only ask our investors to ensure that their investments are responsible, by incorporating environmental, social and governance factors”.
The power industry is a good example. A giant tender to build solar farms announced in May originally gave bidders only a month to apply, even though most foreigners could not enter the country at the time because of a coronavirus flight ban. After complaints, the energy ministry extended the deadline by a month.
Something similar happened last year, when the ministry of energy awarded five contracts for the speedy construction of power plants, to alleviate a shortage of electricity. Again, there was a one-month bidding period, and all the contracts went to firms based in China. Meanwhile, rules that are awkward for investors who take seriously concerns about corporate conduct are proliferating. For over a year Ms Suu Kyi’s government has limited internet access and blocked critical websites in parts of the country afflicted by an insurgency. Telenor, a Norwegian firm that runs one of Myanmar’s mobile providers, at first resisted the restrictions before acquiescing.
Ms Suu Kyi does not want that. But policy-making is overseen by ageing ministers who grew up under a socialist regime that demonised the private sector. Senior bureaucrats are much the same. Optimists hope for a new leaf after elections in November—but if change comes, it will not be as quick as a government tender.
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