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Reuters-Myanmar minister on investm



Subject: Reuters-Myanmar minister on investment body retires 

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Myanmar minister on investment body retires=20
10:22 p.m. Nov 30, 1999 Eastern=20
YANGON, Dec 1 (Reuters) - A minister in Myanmar's ruling military =
council on the country's foreign investment commission has retired, the =
third cabinet member to step down in two months.=20

Official Myanmar Radio and Television announced on Tuesday night that =
Brigadier-General Maung Maung, a minister in the office of State Peace =
and Development Council (SPDC) chairman Senior General Than Shwe, had =
been permitted to retire.=20

Maung Maung was also secretary of the Myanmar Investment Commission, =
which is responsible for policy on foreign investment into the country. =
He was expected to be automatically relieved of that post.=20

Myanmar, under U.S. sanctions since 1997 because of its human rights =
record and failure to democratise, announced dismal foreign investment =
statistics in July this year.=20

It said it had approved just $29.5 million of foreign direct investment =
in the fiscal year to March, down from $777.4 million a year earlier and =
$2.8 billion the year before that.=20

Officials of the Ministry of National Planning and Economic Development =
blamed the sharp fall on the Asian economic crisis rather than on the =
sanctions.=20

Several foreign firms have pulled out of Myanmar due to concerns about =
being associated with its poor rights record. However, some large U.S. =
and European oil firms, such as Unocal and TotalFina, remain in the =
country.=20

The declaration announcing Maung Maung's retirement was signed by =
Lieutenant-General Khin Nyunt, officially number three in the SPDC but =
considered its must powerful figure.=20

Maung Maung had been one of three ministers in Than Shwe's office since =
November 1997 and had been livestock and fisheries minister before that. =
Previously he was commander of Yangon airbase.=20

Last month, the SPDC announced that Major-General Kyaw Than had been =
permitted to retire as minister of commerce and Brigadier-General Sein =
Win as minister of sports.=20





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<DIV><FONT face=3DArial size=3D2><FONT size=3D+1><STRONG>Myanmar =
minister on=20
investment body retires</STRONG></FONT> <BR>10:22 p.m. Nov 30, 1999 =
Eastern=20
<P>YANGON, Dec 1 (Reuters) - A minister in Myanmar's ruling military =
council on=20
the country's foreign investment commission has retired, the third =
cabinet=20
member to step down in two months.=20
<P>Official Myanmar Radio and Television announced on Tuesday night that =

Brigadier-General Maung Maung, a minister in the office of State Peace =
and=20
Development Council (SPDC) chairman Senior General Than Shwe, had been =
permitted=20
to retire.=20
<P>Maung Maung was also secretary of the Myanmar Investment Commission, =
which is=20
responsible for policy on foreign investment into the country. He was =
expected=20
to be automatically relieved of that post.=20
<P>Myanmar, under U.S. sanctions since 1997 because of its human rights =
record=20
and failure to democratise, announced dismal foreign investment =
statistics in=20
July this year.=20
<P>It said it had approved just $29.5 million of foreign direct =
investment in=20
the fiscal year to March, down from $777.4 million a year earlier and =
$2.8=20
billion the year before that.=20
<P>Officials of the Ministry of National Planning and Economic =
Development=20
blamed the sharp fall on the Asian economic crisis rather than on the =
sanctions.=20

<P>Several foreign firms have pulled out of Myanmar due to concerns =
about being=20
associated with its poor rights record. However, some large U.S. and =
European=20
oil firms, such as Unocal and TotalFina, remain in the country.=20
<P>The declaration announcing Maung Maung's retirement was signed by=20
Lieutenant-General Khin Nyunt, officially number three in the SPDC but=20
considered its must powerful figure.=20
<P>Maung Maung had been one of three ministers in Than Shwe's office =
since=20
November 1997 and had been livestock and fisheries minister before that. =

Previously he was commander of Yangon airbase.=20
<P>Last month, the SPDC announced that Major-General Kyaw Than had been=20
permitted to retire as minister of commerce and Brigadier-General Sein =
Win as=20
minister of sports.=20
<P><BR></P></FONT></DIV></BODY></HTML>

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