--- pym/_emerge/actions.py
+++ pym/_emerge/actions.py
@@ -1296,7 +1296,7 @@
 	for x in myvars:
 		if x in settings:
 			if x != "USE":
-				print('%s="%s"' % (x, settings[x]))
+				print('%s="%s"' % (_unicode_decode(x), _unicode_decode(settings[x])))
 			else:
 				use = set(settings["USE"].split())
 				for varname in use_expand: