NAY PYI TAW, MYANMAR – February 9 – The Ministry of Natural Resources and Environment (MONREC) in Myanmar and the Global Green Growth Institute (GGGI) today signed a Memorandum of Understanding (MoU) to promote and facilitate collaboration on programs, research and joint activities that advance green growth in Myanmar.
The opening up of Myanmar’s economy in recent years has accelerated growth – the World Bank projects the country’s medium term GDP growth at an average of 8.2 percent per year. However, this growth relies heavily on natural resources such as energy, forests, minerals and agriculture for exports and industries, which makes it essential that the growth pattern is environmentally sustainable.
H.E. U Khin Maung Yi, Permanent Secretary, Natural Resources and Environment said, “Myanmar is at a juncture in its development. We are welcoming foreign investment and stimulating SMEs. We see rapid urban development and industrialization. This will affect natural resources. It is crucial that we safeguard a green, sustainable development pathway. Therefore, we are glad to be signing a six-year agreement with GGGI today. “
The MoU signing took place in the capital Nay Pyi Taw during the Green Growth Potential Assessment (GGPA) workshop. The GGPA is a diagnostic tool which is used to identify areas where green growth has the highest potential of supporting the economic development of Myanmar. The exercise aims to select priorities for cooperation between GGGI and the government of Myanmar for the next five years.
“Myanmar has the potential to establish the foundations for strong, low-carbon economy that is sustainable in the use of natural resources, and resilient to climate change,” said Dr. Frank Rijsberman, Director-General of GGGI. “GGGI is committed to partnering with the government to identify green growth opportunities and leverage green investment.”
GGGI’s first project in Myanmar will focus on supporting the government in setting up a monitoring, reporting and verification (MRV) system for its Nationally Determined Contribution (NDC). This will allow the Government of Myanmar to monitor progress against the commitment it made to the Paris Agreement in 2015 to mitigate and adapt to climate change.
About the Global Green Growth Institute (GGGI)
Based in Seoul, GGGI is an intergovernmental organization founded to support and promote green growth. The organization partners with countries to help them build economies that grow strongly, are more efficient and sustainable in the use of natural resources, less carbon intensive, and more resilient to climate change. GGGI works with countries around the world, building their capacity and working collaboratively on green growth policies that can impact the lives of millions. To learn more about GGGI, see https://gggi.org and visit us on Facebook and Twitter.