Adani Group creating investment-friendly opportunities in Myanmar with trade and commerce
Mar 31, 2021
Ahmedabad (Gujarat) [India], March 31 : Indian multinational Adani Group on Wednesday condemned violations of people's fundamental rights in Myanmar and said it will continue to work with its partners and stakeholders including business leaders, government and non-government organisations to foster a business environment that respects human rights.
"We are also working with independent think tanks to ensure mitigation of human rights violations risks and building equal opportunity platform through sustainable value creations powered by critical port infrastructure," said the Group's spokesperson.
"Much like our global peers, we are watching the situation in Myanmar carefully and will engage with the relevant authorities and stakeholders to seek their advice on the way forward."
As a responsible corporate, said Adani Group, its intention is to create investment-friendly opportunities in Myanmar through trade and commerce which will have a multiplier effect on job creation for local communities and contribute towards the nation's economic and social development goals.
In 2019, the Indian government hosted Myanmar's General Min Aung Hlaing and Mundra Port was only one such location out of the multiple sites on this visit. The visit of the General at Mundra Port was hosted by Indian government officials while Adani Ports and Special Economic Zones (APSEZ) facilitated the visit.
Adani executives with many other attendees were present at the Indian government-hosted visit. Mementoes were exchanged as a cultural courtesy, which is customary practice. No gifts were exchanged between APSEZ executives and Myanmar General Min Aung Hlaing on his visit in 2019, said the spokesperson.
In 2020, APSEZ won the Yangon International Terminal project through a globally competitive bid. The project fully owned and developed by APSEZ is an independent container terminal with no joint venture partners.
The land acquisition for the project was facilitated by the Myanmar Investments Commission led by U Thaung Tun, its Chairman and Minister of Investment and Foreign Economic Relations, under the guidance of Her Excellency President Aung San Suu Kyi's National League for Democracy government.
The spokesperson's comments came after some media reports misrepresented Adani Group's investments in Myanmar suggesting that it is funding junta leaders in the neighbouring nation.
