Expression of Interest | AustCham Myanmar Responsible Investment Working Group
You are invited to submit an expression of interest to join the next iteration of the Responsible Investment Working Group.
The Responsible Investment Working Group is an AustCham Myanmar-led initiative co-chaired by Jodi Weedon, CEO of the Chamber, and Vicky Bowman from the Myanmar Centre for Responsible Business (MCRB). It brings together leaders from Australian and Myanmar businesses, NGOs and the Australian Government. The Group’s purpose is to discuss what responsible business means in Myanmar and how companies can work with stakeholders, including the Myanmar government, to promote it. The objectives are fourfold:
a) To source best practice case studies;
b) To develop practical and innovative business solutions;
c) To develop relationships between the corporate and NGO sector;
d) To provide guidance on responsible investment to the Myanmar Government and wider business community.
During the first half of 2016, the Working Group held a series of meetings that focused on Anti-Corruption and Human Rights. In addition, the Working Group also explored ‘Creating Shared Value’, a management strategy developed by Harvard professors which ultimately aims to create commercially viable solutions to social problems. In relation to the latter, the Working Group successfully launched its Position Paper ‘Incentivising Shared Value’ at the Myanmar Business Roundtable, which formed part of the Asian Forum for Corporate Social Responsibility (AFCSR) and was attended by over 130 people. A summary of the Working Group’s key learnings and recommendations can be found in the final report. We continue to work on updating this report.
The next iteration of the Working Group commenced in 2017 and covered the following topics: Environment (Environmental Impact Assessments) and Labour (Safety). During this Phase 2 the Working Group drew upon and further expanded its relationships built and achievements made in 2016. The Group prepared and submitted detail comments and drafting recommendations to the relevant arms of Myanmar Parliament on the draft Occupational Safety and Health Law. The Group also worked together to workshop recommendations on Environmental Impact Assessments and is currently working with relevant departments within the Ministry of Natural Resources and Environmental Conservation to assist and streamline the EIA process. This work is continuing.
In 2018 Phase 3 was launched!
During Phase 3 the group considered the following topics:
Continued the discussion on Creating Shared Value, developing further examples from Working Group Members and sharing learnings beyond the Working Group.
Implications of the situation in Rakhine State for responsible investment in Myanmar, including for companies committee to diversity; and
Developing Myanmar’s human capital, internally and beyond the company.
We are now ready to launch Phase 4. At this stage we propose to consider cross sectoral issues such as taxation payment reforms, continuation of recommendations on Environmental Impact Assessments and streamlining the EIA processes, as well as continuing work on updating the Position Paper on "Incentivising Shared Value" to include recent examples of Creating Shared Value programs in the Myanmar Context.
If you respond to this call for expressions of interest please also provide me with feedback as to which topics (or others) you would prefer to cover during this Phase 4.
If your organisation would like to be a part of the Responsible Investment Working Group for 2019, please submit your expression of interest to Jodi Weedon by email by COB 29 May 2019. We will then advise when the first meeting of the group will be. Please note that meetings will be held at our offices on Level 11, Vantage Tower, Pyay Road.
Sponsorship opportunities will be discussed prior to the commencement of the first Working Group meeting but please let Jodi know if you have any interest in this prior to that time.
Event Invitation | Bangkok | 2019 Australian Business in ASEAN Survey Official Launch
The Australian-Thai Chamber of Commerce (AustCham Thailand), together with AustCham ASEAN, the Australian Mission to ASEAN and the Australian Embassy Bangkok, is delighted to announce the official launch of the 2019 Australian Business in ASEAN Survey on Tuesday 28 May, 12.00-14.00, at the Hyatt Regency Bangkok Hotel.
Our special guest, the Australian Ambassador to ASEAN, H.E. Ms. Jane Duke, will join our panel to discuss the findings of the ASEAN Business Survey, with Mr. Greg Thomas, CEO Asia of Linfox International Group, AustCham Thailand President, Mr. Wayne Williams, and AustCham ASEAN President, Mr. Brenton Mauriello.
When: Tuesday, May 28, 2019, 12:00 - 14:00 Where: Floor 5th, Ballroom 2, Hyatt Regency Bangkok Sukhumvit || map (Nana BTS) How much does it cost:
1,200 baht for AustCham Members (inc. all Australian Chambers & Business Councils in ASEAN)]
1,800 baht for non-members
*** inc. 3-course lunch; please advise if you have dietary requirements ***
Event Invitation | Yangon | UMFCCI Centennial International Expo
Event Debrief | Yangon | Trivia Night
On Friday 17th May 2019 over 80 people gathered for a night of fun and fierce trivia at Lotte Hotel in Yangon.
The competition was tough with all teams performing well, and at times there was no more than a point between first and third place. In the end, and with some brave karaoke efforts to secure bonus points, the winning team was The Mayday Collective by one point. Lots of fun was had, and plenty of new trivia learned!
A huge thanks to Metro Wholesale Myanmar for sponsoring the wine.
Also thanks to our fantastic Quizmaster, Rory Hunter, for the curly questions and great fun.
Foreign bank subsidiaries allowed to provide retail services (Myanmar Times - 20 May) The Central Bank of Myanmar (CBM) will allow foreign banks to open branches in the country to help local businesses gain access to financing, deputy governor U Soe Thein said during a press conference on May 17. This includes subsidiaries of foreign banks. “We will allow more foreign bank branches to open up to a suitable extent. Foreign bank subsidiaries will also be allowed in accordance with the law,” he said.
170 domestic companies wind up in Myanmar (Myanmar Times - 19 May) The Directorate of Investment and Company Administration (DICA) announced that a total of 170 companies had submitted voluntary winding up notices. The companies will wind up and have been removed from DICA’s register. The majority of the companies that shuttered are from the mining and gold industries. Some have been registered since 1990. There are currently more than 62,000 companies registered with DICA after more than 14,000 new companies and 46,000 old companies registered and re-registered on MyCO in the past nine months
Corporate Governance Code to be ready next year: minister (Myanmar Times - 16 May) Myanmar is aiming to publish a Corporate Governance Code, said U Aung Naing Oo, permanent secretary of Ministry of Investment and Foreign Economic Relation. A draft report on the code by the Directorate of Investment and Company Administration (DICA), Securities and Exchange Commission of Myanmar (SECM) and Organisation for Economic Co-operative and Development (OECD) is expected to be ready this year.
Ooredoo, ZTE to develop 5G network in Myanmar (Myanmar Times - 16 May) Ooredoo Myanmar and ZTE Corporation signed an MOU to collaborate on 5G network development yesterday. The collaboration is part of Ooredoo’s network modernisation program and will ensure that Myanmar is ready for 5G. The partnership will leverage the technical expertise of ZTE Corporation and support Ooredoo Myanmar’s efforts to provide a world-class telecom infrastructure for the people of Myanmar.
The Australian BBQ, 11:30 am - 4:00 pm, May 26, 2019
Australian Barbecue is a huge tradition in Australian culture and they love it. It happens every weekend as part of leisure time. Inviting friends and families to gather together and cook their food outdoor. Sounds pretty exciting activities over the weekend. Well, let’s do it in another way!
Rose Garden Hotel Yangon’s Aussie Barbecue will kick off this 26th of May from 11:30 am to 4:00 pm. Experience amazing and authentic Australian food. There will be loads of barbecues to try, Australian meats of high quality and grade, bringing you the juiciest and meatiest meat in Yangon. A great time to bond and enjoy a good brunch with your family and friends. As a saying, food always brings us together.
Aussie BBQ will feature traditional BBQ like lamb, a few exotic foods like kangaroo, crocodile and emu meats. Sounds weird? But it’s a must-try food even once. Considered all healthy food, very low in fat and extremely high in protein. You’ll definitely love it! Reigns all is the ultimate “pub meal”, the chicken Parmigiana (parma) will also be on the table along with seafoods like red snapper, ocean trout and tiger prawns and many more.
Take yourself to have a dip in the 60 foot swimming pool. Yangon’s weather is lesser hot. King sun hides in the cloud, a perfect time to enjoy the pool.
Savor our Barbecue Brunch along with free-flow draft beer and soft drinks, live music and the usage of the swimming pool for only USD 26.00 net per person! Children ages 4 to 11 years old dining with their parents will be 50% off.