November 14, 2018
Yangon, Myanmar: Today the DaNa Facility, supported by the Directorate of Investment and Company Administration (DICA) and the Directorate of Industrial Supervision and Inspection (DISI), published a report on Inclusive Business in Myanmar. The report, an assessment of Inclusive Business in Myanmar, offers an opportunity for businesses, investors, NGOs and the government to examine the transformational potential of Inclusive Business in the country and starts to map a way forward to a more inclusive and sustainable business environment in Myanmar.
Inclusive Business is an innovative approach to promoting growth in an economy with the private sector contributing to inclusive economic growth by creating and expanding opportunities for the poor. Inclusive Business is a relatively new concept in Myanmar and while there are a growing number of social enterprises and corporate social responsibility activities in the country, the notion of engaging the poor through core business activities is still nascent. The report explores the potential for Inclusive Business in Myanmar with the aim of improving understanding of the market while examining the potential of inclusive businesses to attract investment from impact investment funds. It also makes policy recommendations on enhancing the environment for inclusive business investments including coordination between key stakeholders.
Speaking about Inclusive Business, U Aung Naing Oo, Director General of the Directorate of Investment and Company Administration said: “Inclusive business is a new and relevant concept for Myanmar. Inclusive businesses are businesses that provide scalable, innovative, and systemic solutions for problems experienced by the poor and marginalised. They can create new income opportunities for the poor by engaging them in the value chains of profitable businesses while paying better than market rates. Inclusive businesses create triple wins: for the poor, for companies, and for government and also contribute to the government’s agendas of reducing poverty, making a more inclusive economy, and achieving Sustainable Development Goals.”
The Head of DFID, Dr Gail Marzetti, speaking about the publication of the report in Yangon today said: “Inclusive businesses engage the poor in a way that offers sustainable solutions to the problems the poor face. This is the triple win of inclusive business: the poor, the company, and society all win. That is why it can have such a profound impact on society and on the economy, promoting inclusive growth and sustainable development. And this is why DFID and the UK Government are so committed to promoting Inclusive Business and why we are so pleased to be involved in the publication of this ground-breaking report.”
Notes to editors:
A copy of the Inclusive Business in Myanmar report can be found on the DaNa website here.
For more information please contact the DaNa Facility communications team at: +95 997 925 3516 or through email: firstname.lastname@example.org
The DaNa Facility: The DaNa Facility is a UK Department for International Development (DFID) funded programme, established in May 2016 as one of three components of DFID’s wider ‘Business for Shared Prosperity’ (BSP) programme. The DaNa Facility, implemented by DAI Europe and KPMG, supports inclusive economic growth and private sector development in Myanmar through responsible and sustainable business growth, investment and trade.
You can find a Myanmar language version of this press release here.