Gov't, stakeholders discuss 'responsible business' in Myanmar

 

The high-level meeting was hosted by the British Council in partnership with the UK-funded Centre for Responsible Business as part of the UK government’s prosperity agenda in support of responsible business and investment in the Southeast Asian country.

“Responsible business is the essential element for the development of a nation. We, as a developing country with an emerging market, need to promote responsible business and investment in the country,” said Aung Naing Oo, Director General of the Directorate of Investment and Company Administration, which hosted the meeting.

Aung Naing Oo emphasised the importance of ‘quality investment’ in Myanmar during the discussion. The DICA plays as key a role as the Secretariat of the Myanmar Investment Commission in screening investment proposals in the country.

The British Council has been working closely with the DICA to strengthen its capacity by training its staff to understand and be able to apply key international standards such as UN principles on human rights and business.

British Council director Kevin Mackenzie, giving the opening speech, emphasised the importance of a responsible business agenda for Myanmar.

“Adherence to principles of responsible business is essential as a means both of attracting foreign investment and ensuring that the people and natural environment of Myanmar benefit from this,” he said.

Professor Aung Tun Thet, a senior economics adviser to the president, spoke of the importance of corporate social responsibility. He emphasised the need for CSR to be ‘a core part of business strategy and not an afterthought or add on.’

A British government official mentioned that the meeting is part of a programme of work the UK Government is supporting to ensure that the new investment Myanmar receives is sustainable, equitable and ethically viable.

“Business, both domestic and foreign, has a key role to play in the economic reform and democratisation of this country. We share the wish of President Thein Sein’s government: to help create an environment where ethical business can flourish and unethical business flounders,” said Anthony Preston, head of the British Embassy’s prosperity team.

Representatives from government ministries, including National Planning and Economic Development; Commerce; Environmental Conservation and Forestry; Labour; Social Welfare; Agriculture and Irrigation; Home Affairs; Cooperatives; Livestock, Fisheries and Rural Development; Telecommunications; Energy; Mining; and Finance, as well as from the Supreme Court and the Attorney General’s office, also attended the meeting, as well as parliamentarians from both houses. 

“More coordination between parliament and the ministries will be definitely needed in order for responsible business and investment to be realized,” said MP Win Oo (Yebyu), highlighting that the vision of economic development is set by parliament while action must come from the ministries. Win Oo also emphasised the importance of knowledge sharing among stakeholders, urging attendees “to share knowledge and effort for a better world.”

Key stakeholders from both public and private sectors discussed how to review current business activities in various sectors, consider how they can work more strategically to promote investment in Myanmar, and how to provide economic benefits and growth to meet the needs of communities and the natural environment.

A senior official from the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) spoke on how the business community has led the promotion of responsible business and investment.

“While it is important to develop sustainable profit-making businesses in Myanmar, it is more important that businesses make profit with quality. Moreover, businesses should aim not only for profits but also for the sustainability of the natural environment, working environment, society and the community,” said the UMFCCI’s joint secretary-general Khine Khine Nwe, who is also the chairperson of the CSR and industrial relations committee of the federation.

Members of the Myanmar Business Executive, an organisation that has been advocating a responsible business agenda for many years, also discussed the importance of a responsible business agenda in Myanmar.

‘‘Businesses make profit from people and businesses deliver products and services to people, so it’s important that businesses take their responsibilities seriously,’’ said Lynn Lynn Thet Tun, vice president of the MBE, whose members include such leading Myanmar firms as City Mart.