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Article

25 Jan 2016

Author:
Institute for Human Rights and Business

Institute for Human Rights and Business submission

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…In summary, the value of the reports in promoting good governance and responsible business conduct in Myanmar therefore extends beyond the reporting company itself to assisting in improving due diligence and responsible business practice among other investors in Myanmar, including companies – both from the US and elsewhere – and thus contributes to leveling the playing field. The Reporting Requirements has served as an important and practical example for building the capacity of Myanmar government officials and civil society on responsible business conduct standards and importantly, what the application of those standards look like in the Myanmar situation. They have had a multiplier effect in sparking other initiatives on transparency about business practices among Myanmar businesses as well as businesses from a wide range of other countries. And finally, they have helped improve the knowledge of Myanmar society about the benefits of rejoining the international community, by highlighting the benefits that international investment can bring to the country when conducted in line with international standards…

[Includes “Recommendations for Changes in the Content of the Reporting Requirements”]

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