Banks Urged to Invest Sensibly in Dawei

Banks investing in the Dawei project should only back projects that are socially and environmentally sustainable, a local environmental group said at a seminar in Bangkok recently.
Bo Bo, a representative from the Dawei Development Association (DDA) and a resident in the area where the Dawei SEZ will be developed, said that only light industries with responsible investment should be allowed in the project, but that petrochemical, oil and gas offshore, as well as coal and tin mining projects should be banned.
He added that he had doubts whether local people would actually benefit from investments in the area.
“So much gas [from Myanmar] goes to Thailand, but we Dawei people have to pay about 16-17 baht [$0.50] per unit of electricity, which is very expensive,” he said.
Also at the event, scholars and organisations urged Thai companies to uphold human rights and environmental issues when investing in Myanmar, since the country’s legal system is not yet up to international standards.