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Volume 400: debated on Tuesday 25 February 2003

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To ask the Secretary of State for Trade and Industry (1) which British companies have investments in Burma; [97221](2) what the value of UK investment in Burma, including transfers via dependent territories, was in each of the past two financial years. [97219]

HMG has no reliable annual figures on the level of investment from the UK and the dependent territories to Burma. Burmese statistics, which are often inaccurate, suggest total accumulated British investment of about USC1440 million. The most significant British investments are believed to be Premier Oil's, which are currently in the process of being sold, and those of British American Tobacco. We believe that some of the investment identified as being British is actually foreign investment that has been channelled through dependent territories.