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Article

23 Jul 2012

Author:
Jeremy Prepscius, BSR, in Guardian [UK]

How companies can rewrite Burma's story and avoid a repeat of history

If today's market entry issues are not understood there is little to stop Burma becoming the new Cambodia or Vietnam – the next low cost manufacturing base in South East Asia...Today companies need to marry their business risk with their own pre-existing social, environmental and governance indicators; entering a country like Burma requires serious considerations and commitments to responsible corporate practice...[W]hat manufacturing companies can do to support development beyond low cost manufacturing – and what does Burma need to do to attract it?...Companies need to establish and make public responsible investment criteria that guides whether and how an investment is made...Burma is likely to start out as a low cost hub, but its overall trajectory could be towards higher value-add, better paying jobs and a diversified labour market...