As Country Opens, Myanmar Businesses Embrace the Global Compact

(Yangon, 1 May 2012) – Speaking to more than 200 participants at a ceremony in Yangon, UN Secretary-General Ban Ki-moon chaired the launch of the UN Global Compact in Myanmar today, underscoring heightened interest in corporate responsibility as the country is going through a process of political and economic reforms.

“In order to deliver prosperity and opportunity widely, Myanmar needs strong and inclusive markets,” the Secretary-General said in his keynote remarks to participants, which also included nearly 50 representatives of the international community, including foreign investors. “Business has to be the backbone of growth. However, investment and business activity must be sustainable and responsible – upholding the highest standards of business ethics.”

The meeting with business and government representatives came on the last day of the Secretary-General’s three-day visit to Myanmar. At the event, 14 companies and the Myanmar Chamber of Commerce formally joined the Global Compact in a signing ceremony.

With a core group of companies now committed to the Global Compact principles, the further evolution of the Global Compact, including the establishment of a Global Compact Local Network, will be steered in a collaborative effort between the inaugural signatories, the Myanmar Chamber of Commerce and the Office of the UN Resident Coordinator in Myanmar.

“[T]his initiative comes at a most opportune time as Myanmar transitions to a more democratic and inclusive society,” said Dr. Ashok Nigam, that UN Resident Coordinator in Myanmar. “This is a time when the Myanmar people have expectations of increased growth and opportunities, in particular, decent jobs. The role of businesses in meeting these expectations will be critical.”

Following an opening panel addressing the broader environment in Myanmar and introducing the Global Compact, several roundtable discussions addressed specific aspects of corporate responsibility in the country, such as sustainable agriculture, responsible investment, and the role of the government.

• Secretary-General's Remarks at Global Compact Event
• List of UN Global Compact Signatories – Myanmar
• Agenda: Introducing the United Nations Global Compact in Myanmar

Media Contact

Matthias Stausberg
Spokesperson
UN Global Compact
stausberg@un.org
+1-917-367-3423