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Suu Kyi warns investors off Myanmar's state-owned oil & gas


    GENEVA (Reuters) - Myanmar's opposition leader Aung San Suu Kyi said on Thursday that the state-owned oil and gas company MOGE lacked transparency and accountability, and urged foreign companies not to allow their companies to do joint ventures until it improved.

    Suu Kyi, speaking to the International Labour Organization (ILO) in Geneva, said: "The Myanmar Oil and Gas Enterprise (MOGE), the state-owned company under the ministry of energy with which all foreign participation in the energy sector takes place through joint venture arrangements, lacks both transparency and accountability at present.

    "The government needs to apply internationally recognised standards such as the IMF code of good practices on fiscal transparency. Other countries could help by not allowing their own companies to partner MOGE unless it was signed up to such codes," she declared.

    (Reporting by Stephanie Nebehay; Editing by Toby Chopra)