AMCC
International engagement with Myanmar is greater than ever – as the economy opens so too does the attention of world markets turn.
The Australia–Myanmar Chamber of Commerce is the Great Southern Land’s answer to the question: How do I do business in Myanmar?
The chamber’s most notable recent contribution was the meeting of Australian minds after the great and terrible flood that swept Myanmar’s west and south.
Bringing together members of public, private business, the Chamber of commerce worked with the Australian Embassy in Yangon to bring in the private sector in responding to disasters. They also hosted U Thein Sein when he attended the Brisbane G20 meeting last year.
Verity Lomax, the new CEO of the A-MCC, is based in Yangon – and believes in the vision for a better Myanmar.
With a background in Australian state government and later at the charity CARE Lomax’s appointment to the role of CEO was announced with great fanfare by the A-MCC.
“There’s so many opportunities in this role to make a contribution,” she says. “Responsible investment was something I studied at university – and my lecturer was based in Myanmar for some time, so that’s where the seed was planted.”
And it’s responsible investing that Lomax so believes the Australia–Myanmar Chamber of Commerce can create.
She says the chamber is aiming to deliver three outcomes: to support Australian businesses entering Myanmar; to promote responsible investment – what Lomax calls “consistency in what responsible investment is in Myanmar and internationally, and also sharing with Myanmar some of the best practice Australian businesses can bring to the market”; and assisting in capacity building, one of Myanmar’s continual limitations.
The chamber – and its associate members – coordinate the network through skills exchange program, which facilitates Myanmar nationals working in Australian businesses for up to six weeks.
“The program multiplies the experience, they come back to Myanmar – and we work with the company and the individual to put together a seminar,” Lomax said. “It’s not just the life of the individual that’s changed, they’re able to share their experiences with a wider group of individuals.”
The (Australian trade agency) Austrade-funded skills-swap programs in part address some of the wider skill shortages in Myanmar, but there’s still a long way to go.
“One of Australia’s competitive advantages should be – and is – the education and skills space.
“There’s definitely a hunger to grow skills and capacity in Myanmar.”
The hunger and need for highly skilled work on the ground is especially so given the vision for Myanmar’s extractive sectors. Oil, gas and mining, although long-term industries in the country are in some states beleaguered.
Fifteen percent of A-MCC’s membership is comprised extractive businesses who are working with the chamber to find further opportunities.
Woodside is a major exploiter of oil and gas reserves off Australia’s northern Timor coast with eyes on moving into Myanmar’s energy sector. They recently entered into a shared agreement with BG Exploration & Production (Myanmar) and Myanmar Petroleum Exploration & Production Co to explore areas off the Rhakine coast.
However, with moves towards growth in the service and manufacturing industries Myanmar needs skills more than ever.
Lomax believes Australia, with its strong international and vocational education offerings is better placed than many to meet these needs.
“There is a lot of work to do.
“It’s really exciting that there’s so many opportunities for Australian business to contribute to Myanmar at this critical junction in its history.”
On the back of the announcement of their new CEO the Chamber announced their 2015-16 12-month plan. The Chamber also plans on holding larger regional events to engage businesses outside of Myanmar in looking to the country’s future.
However uncertainties in Myanmar’s outlook give pause to businesses looking to invest or capitalise on the announcement of the new industrial zones.
Lomax says, “Business are waiting for some certainty, adding that the wait on legislation is “a natural part of the transition.”
She also believes there to be a great opportunity in addressing something that’s so bedevilled companies trying to operate in Myanmar. Infrastructure. “It’s a great opportunity – especially as Australia can contribute with its expertise and capacity.”
Myanmar’s underdeveloped or poorly maintained infrastructure has amplified some of the issues the country faces. Yangon’s bursting traffic is just one example where spending failed to keep up with surging demand.
But maybe you’re asking yourself, how can a chamber contribute? Verity Lomax had this story.
“We had an expert in infrastructure join the chamber and say they’re interested in doing some pro-bono advisory work in Myanmar. Through my conversations and the event after the flood I met somebody who asked me whether I had someone who could contribute to a government working group on schools infrastructure. As a result I connected this individual and the Myanmar government – and he’s now providing infrastructure advice.”
David Ross is Myanmar Business Today’s Special Correspondent based in Melbourne.
From: Myanmar Business Today