[Weekly Compilation of Presidential Documents Volume 33, Number 21 (Monday, May 26, 1997)]
[Pages 749-750]
[Online from the Government Publishing Office, www.gpo.gov]
<R04>
Executive Order 13047--Prohibiting New Investment in Burma
May 20, 1997
By the authority vested in me as President by the Constitution and
the laws of the United States of America, including section 570 of the
Foreign Operations, Export Financing, and Related Programs
Appropriations Act, 1997 (Public Law 104-208) (the ``Act''), the
International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.)
(IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), and
section 301 of title 3 of the United States Code;
I, William J. Clinton, President of the United States of America,
hereby determine and certify that, for purposes of section 570(b) of the
Act, the Government of Burma has committed large-scale repression of the
democratic opposition in Burma after September 30, 1996, and further
determine that the actions and policies of the Government of Burma
constitute an unusual and extraordinary threat to the national security
and foreign policy of the United States and declare a national emergency
to deal with that threat.
Section 1. Except to the extent provided in regulations, orders,
directives, or licenses that may be issued in conformity with section
570 of the Act and pursuant to this order, I hereby prohibit new
investments in Burma by United States persons.
Sec. 2. The following are also prohibited, except to the extent
provided in section 203(b) of IEEPA (50 U.S.C. 1702(b)) or in
regulations, orders, directives, or licenses that may be issued pursuant
to this order:
(a) any approval or other facilitation by a United States person,
wherever located, of a transaction by a foreign person where the
transaction would constitute new investment in Burma prohibited by this
order if engaged in by a United States person or within the United
States; and
(b) any transaction by a United States person or within the United
States that evades or avoids, or has the purpose of evading or avoiding,
or attempts to violate, any of the prohibitions set forth in this order.
Sec. 3. Nothing in this order shall be construed to prohibit the
entry into, performance of, or financing of a contract to sell or
purchase goods, services, or technology, except:
(a) where the entry into such contract on or after the effective
date of this order is for the general supervision and guarantee of
another person's performance of a contract for the economic development
of resources located in Burma; or
(b) where such contract provides for payment, in whole or in part,
in:
(i) shares of ownership, including an equity interest,
in the economic development of resources located in Burma;
or
(ii) participation in royalties, earnings, or profits in
the economic development of resources located in Burma.
Sec. 4. For the purposes of this order:
(a) the term ``person'' means an individual or entity;
(b) the term ``entity'' means a partnership, association, trust,
joint venture, corporation, or other organization;
(c) the term ``United States person'' means any United States
citizen, permanent resident alien, juridical person organized under
[[Page 750]]
the laws of the United States (including foreign branches), or any
person in the United States;
(d) the term ``new investment'' means any of the following
activities, if such an activity is undertaken pursuant to an agreement,
or pursuant to the exercise of rights under such an agreement, that is
entered into with the Government of Burma or a nongovernmental entity in
Burma on or after the effective date of this order:
(i) the entry into a contract that includes the economic
development of resources located in Burma;
(ii) the entry into a contract providing for the general
supervision and guarantee of another person's performance of
a contract that includes the economic development of
resources located in Burma;
(iii) the purchase of a share of ownership, including an
equity interest, in the economic development of resources
located in Burma; or
(iv) the entry into a contract providing for the
participation in royalties, earnings, or profits in the
economic development of resources located in Burma, without
regard to the form of the participation;
(e) the term ``resources located in Burma'' means any resources,
including natural, agricultural, commercial, financial, industrial, and
human resources, located within the territory of Burma, including the
territorial sea, or located within the exclusive economic zone or
continental shelf of Burma;
(f) the term ``economic development of resources located in Burma''
shall not be construed to include not-for-profit educational, health, or
other humanitarian programs or activities.
Sec. 5. I hereby delegate to the Secretary of State the functions
vested in me under section 570(c) and (d) of the Act, to be exercised in
consultation with the heads of other agencies of the United States
Government as appropriate.
Sec. 6. The Secretary of the Treasury, in consultation with the
Secretary of State, is hereby authorized to take such actions, including
the promulgation of rules and regulations, and to employ all powers
granted to me by section 570(b) of the Act and by IEEPA, as may be
necessary to carry out the purposes of this order. The Secretary of the
Treasury may redelegate the authority set forth in this order to other
officers and agencies of the United States Government. All agencies of
the United States Government are hereby directed to take all appropriate
measures within their authority to carry out the provisions of this
order.
Sec. 7. Nothing contained in this order shall create any right or
benefit, substantive or procedural, enforceable by any party against the
United States, its agencies or instrumentalities, its officers or
employees, or any other person.
Sec. 8. (a) This order shall take effect at 12:01 a.m., eastern
daylight time, May 21, 1997.
(b) This order shall be transmitted to the Congress and published in
the Federal Register.
William J. Clinton
The White House,
May 20, 1997.
[Filed with the Office of the Federal Register, 8:45 a.m., May 21, 1997]
Note: This Executive order was published in the Federal Register on May
22.