- Press Release
This week, in the fourth Pwint Thit Sa transparency report from the Myanmar Centre for Responsible Business (MCRB), Myanmar Thilawa SEZ Holdings Public Limited climbed nearly ten spots into ninth place. MTSH is the majority shareholder in Myanmar Japan Thilawa Development Ltd. (MJTD), which is responsible for the development of the special economic zone.
“We have always been proud to work alongside Myanmar Thilawa SEZ Holdings Public Limited, and this study reaffirms and makes public their professionalism and commitment to doing the best job for the Myanmar people and economy. The corporate culture and aspiration of the Thilawa SEZ is to be a leader in sustainability, governance and honest two-way communication with our stakeholders. The report means we are all doing the right thing,” said Mr. Tomoyasu Shimizu – President of MJTD.
The 2018 Pwint Thit Sa report assessed more than double the number of businesses since its last findings in 2016. The criteria for evaluation are good corporate governance, corporate culture, reporting, sustainability management and communication.
The Thilawa SEZ is the largest special economic zone in the country and a beacon for foreign investment opportunity in Myanmar, making the local shareholders success important for continued interest from foreign investors who want to participate in Myanmar’s emerging economy responsibly.
“We have seen a steady increase in foreign direct investment in Thilawa SEZ and believe as we continue to operate under a transparent business model, investment in the zone will increase substantially in the coming years,” finished Shimizu.
“Thilawa’s jump represents the impact of their being listed, which has led them to do better. At the time of the last report, they had only issued a prospectus and just been listed. We have also seen more activity in terms of their communication with stakeholders,” said Ms. Vicky Bowman, Director of Myanmar Centre for Responsible Business (MCRB).
The Myanmar Centre for Responsible Business (MCRB) was set up in 2013 by the Institute of Human Rights and Business, and the Danish Institute for Human Rights with funding from several donor governments. Based in Yangon, it aims to provide a trusted and impartial platform for the creation of knowledge, building of capacity, undertaking of advocacy and promotion of dialogue amongst businesses, civil society, governments, experts and other stakeholders, with the objective of encouraging responsible business conduct throughout Myanmar.
Responsible business means business conduct that works for the long-term interests of Myanmar and its people, based on responsible social and environmental performance within the context of international standards. MCRB receives funding from the governments of UK, Norway, Switzerland, Netherlands, and Ireland.