Burma: first steps for investment of western capital

For the social impacts of international investment in Burma to be
positive, companies need to align their interventions with
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be self-evident. If early conclusions about whether the social impacts
of international investment are to be positive, then the work of
business, civil society, governments and trade unions needs to start
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Burma's president Thein Sein and opposition leader Aung San Suu Kyi
have both called for investment into Burma. They recognise that
business needs to be sustainable in both social and environmental
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terms. These are encouraging commitments. Now they need to be
translated into tangible actions. For this investment to be
responsible, it must deliver value both for investors and the people of
Burma, operate with respect for the rule of law and be accountable for
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A key measure of social sustainability in Burma will be the alignment
of investment with international standards, such as those of the United
Nations, International Labour Organisation as well as multi-stakeholder
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Business and Human Rights, endorsed unanimously by the UN Human Rights
Council in June 2011, are crucial to getting investment in Burma right.
Both the [94]European Union and the [95]United States have made direct
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Principles as part of its new reporting requirements for US businesses
investing in Burma. Moreover, the UN framework is a key part of the
updated [96]OECD Guidelines on Multinational Enterprises and other
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For many international companies considering investments in Burma, a
huge challenge is how they will select their local business partners.
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the government or the military. Many benefited from such ties. This
places enormous importance not just on the due diligence investors need
to undertake before selecting business partners, but also the
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competitive requirements, are gravely mistaken and will be increasing
the risk associated with their investments and operations. This is
equally true in the context of other key challenges ahead for the
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access to adequate remedies when rights abuses do occur. These points
are critical in shaping a culture of sustainable investment in the
country.