Abstract
Myanmar is moving rapidly in the direction of a more democratic and economically strong future. However, many challenges remain and constructive change will require the cooperation of the corporate sector. Many foreign businesses are interested in investing in Myanmar as a result of political reforms. The government could take a pivotal role, leading the agenda by setting Corporate Social Responsibility (CSR) standards as a tool for social development. This paper explores how CSR could be embedded in government business strategy, how business practice could exceed public expectations, how labour laws could strengthen employee packages and benefits, and how foreign investors could be encouraged to bring CSR expertise to strengthen domestic capabilities. Finally, this paper argues that a CSR code of conduct should be imposed to ensure that business practices are tailored to national economic and social interests, and the form such a code of conduct could take.
Highlights
Myanmar is moving rapidly towards a more democratic and economically secure future
Due to the political reforms, the country is seen with great interest by many Western companies, and now is the time for the government to capitalize on this opportunity
It is to recommend that Myanmar needs to issue a robust code of Corporate Social Responsibility (CSR) conduct, which would ensure the national interest in job creation which adheres to internationally recognized labour standards, enforces environmental responsible growth, and promotes democratic-friendly pro-poor development growth
Summary
Myanmar is moving rapidly towards a more democratic and economically secure future. New government systems and amended economic, civil and political laws offer a great prospect of a more promising future for the country and her people. The renewed economic development has brought the country to the forefront of many issues, such as environmental degradation, rights of workers, poor working conditions, deprived safety standard in high risk working environment, and communities being dislocated All this is because some foreign businesses terribly lack respect for social responsibility towards the people who live in the area they operate. At a more local level, over the past couple of months more than 5,000 workers from five different factories at Yangon Hlaing Thar Yar Industrial Zone demonstrated seeking adequate wages and working hours at garment industries All these events express the fact that CSR is a subject people across the country are urgently looking to the government for guidance with, in terms of protection of the environment, society and employee. “To those who ask us to leave the country, we reply that, far from solving Myanmar’s problems, a forced withdrawal would only lead to our replacement by other operators probably less committed to the ethical principles guiding all our initiatives”
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