Norwegian companies must know what they are doing in Myanmar

The article by Åse San argues that as Myanmar opens up, Norwegian and other foreign companies must act responsibly. They should bring investment and jobs, but only if they also raise standards around human rights, land rights, and decent work. With careful preparation and ethical conduct, businesses can both profit and contribute positively to the country’s historic transformation.

Key Points

Myanmar is emerging as Asia’s new growth star, with projected GDP growth of ~8% over the next five years. Following the lifting of U.S. sanctions, the country is actively seeking foreign investment, and expects responsible actors like Norway’s Telenor and Statoil to lead the way. dagsavisen.no+2dagsavisen.no+2dagsavisen.no+2
Aung San Suu Kyi, Myanmar’s de facto leader, has invited profit-driven companies—on the condition they avoid corruption and do not exploit weak institutions or rule-of-law gaps in the country.
Corporate responsibility matters—for others and for yourself:
1. Companies must avoid causing harm in a complex environment defined by ethnic tensions, weak judiciary systems, and corruption.
2. Thorough due diligence is essential to mitigate risks like local resistance, project delays, reputational damage, and financial losses. Even mistakes are forgivable—provided they are responsibly managed. dagsavisen.no+1dagsavisen.no+1
Myanmar risks falling prey to the “resource curse.” Rich in natural resources and low-cost labor, it faces the danger of a race to the bottom as foreign companies flood in. This moment offers a choice: either repeat the mistakes of other resource-rich but poorly governed nations, or embrace responsible investment that boosts local development.