Tech transfer clause linked to enactment of IPR law

The inclusion of the technology transfer clause in contracts inked in Myanmar by foreign firms will only take effect after the Intellectual Properties Right (IPR) law is enacted, said Deputy Minister for the Ministry of Planning and Finance U Maung Maung Win.

Speaking at the Amyotha Hluttaw session yesterday, he said, “When the IPR law is enacted, technological transfer can be discussed and implemented in both the public and private sector.”

He was answering a question raised by Sagaing Region No 5 Constituency, MP U Ye Htut on contract terms with Foreign Direct Investment (FDI) companies and international corporations.

“The technological transfer clause inclusion has to be done depending on the negotiations between the various ministries or private local businessmen and foreign investors,” U Maung Maung Win said.

In issuing permits by the Myanmar Investment Commission (MIC) to FDI companies, economic, social, environmental benefits and technological transfer will have to be taken into account, he added.

Depending on the nature of the business, contracts are signed after considering the economic viability and the technology transfer clause can either be integrated or separately signed, the Deputy Minister said.

“There must be trust between the provider of the technology and the recipient to utilize the transferred technologies in line with the agreed terms.

“For this, the country, which is going to receive the technology, is required to protect intellectual properties rights effectively,” he said.

“If a country only exports raw materials, it can never be developed. It cannot become a developed and industrialized country. What is important is for our country to get technology. It is a must to have modern technology,” he said.

Source : Myanmar Times

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