The British Chamber of Commerce Myanmar (BCOM) is a leading business organization that promotes trade and investment between the United Kingdom and Myanmar. Established in 2014, BCOM aims to facilitate business growth, provide networking opportunities, and advocate for a favorable business environment in Myanmar. The chamber's office is located in Yangon, the commercial hub of Myanmar, and serves as a focal point for British businesses operating in the country.
Objectives and Activities
BCOM’s primary objectives include promoting British business interests in Myanmar, providing support to its members, and fostering a positive business environment. To achieve these goals, the chamber engages in various activities such as organizing business events, seminars, and workshops. These events provide a platform for members to network, share knowledge, and stay updated on the latest market trends and regulatory developments.
BCOM also works closely with the British Embassy in Myanmar, the UK Trade & Investment (UKTI), and other government agencies to promote trade and investment between the two countries. The chamber's activities are designed to support the growth of British businesses in Myanmar, as well as to encourage Myanmar companies to invest in the UK.
Services and Benefits
BCOM offers a range of services and benefits to its members, including:
- Business networking opportunities through events and meetings
- Access to market research and intelligence on the Myanmar market
- Advocacy and support on business and trade issues
- Training and capacity-building programs for members
- Discounts on event sponsorships and advertising opportunities
By joining BCOM, members can tap into the chamber's network of business leaders, policymakers, and experts, and gain valuable insights into the Myanmar market. The chamber's services and benefits are designed to support the growth and success of its members, while also contributing to the development of the Myanmar economy.
| Service | Description |
|---|---|
| Business Matching | BCOM provides business matching services to connect British companies with Myanmar businesses |
| Market Research | The chamber conducts market research and provides intelligence on the Myanmar market to its members |
| Event Sponsorship | BCOM offers discounts on event sponsorships to its members, providing opportunities for brand promotion and networking |
In addition to its services and benefits, BCOM also plays an important role in promoting corporate social responsibility (CSR) and sustainable business practices in Myanmar. The chamber encourages its members to adopt responsible business practices, respecting the environment, human rights, and local communities.
Myanmar Market Overview
Myanmar, formerly known as Burma, is a country located in Southeast Asia, bordered by India, Bangladesh, China, Laos, and Thailand. The country has a population of over 54 million people, with a growing middle class and a rapidly developing economy. Myanmar has significant natural resources, including oil, gas, timber, and minerals, and is also a major producer of agricultural products such as rice, pulses, and beans.
The Myanmar government has implemented various economic reforms in recent years, aimed at liberalizing the economy and attracting foreign investment. The country has also signed several trade agreements, including the ASEAN Free Trade Area (AFTA) and the Regional Comprehensive Economic Partnership (RCEP), which provide preferential access to markets in the region.
However, despite the country's potential, Myanmar still faces significant challenges, including infrastructure constraints, corruption, and a lack of institutional capacity. The country also faces human rights and humanitarian challenges, particularly in relation to the Rohingya crisis.
Opportunities and Challenges
Despite the challenges, Myanmar offers significant opportunities for British businesses, particularly in sectors such as:
- Infrastructure development, including construction, transportation, and energy
- Agriculture and agribusiness, including crop production, livestock, and fisheries
- Manufacturing, including textiles, food processing, and pharmaceuticals
- Financial services, including banking, insurance, and microfinance
However, businesses operating in Myanmar must also be aware of the challenges, including:
- Corruption and bureaucracy
- Infrastructure constraints, including limited access to electricity, water, and transportation
- Lack of institutional capacity and regulatory frameworks
- Human rights and humanitarian challenges, particularly in relation to the Rohingya crisis
By understanding the opportunities and challenges in Myanmar, British businesses can make informed investment decisions and develop effective strategies for operating in the country.
What are the main objectives of the British Chamber of Commerce Myanmar?
+The main objectives of BCOM include promoting British business interests in Myanmar, providing support to its members, and fostering a positive business environment.
What services does BCOM offer to its members?
+BCOM offers a range of services, including business networking opportunities, access to market research and intelligence, advocacy and support on business and trade issues, and training and capacity-building programs.
What are the opportunities and challenges for British businesses in Myanmar?
+Myanmar offers significant opportunities for British businesses, particularly in sectors such as infrastructure development, agriculture and agribusiness, manufacturing, and financial services. However, businesses must also be aware of the challenges, including corruption and bureaucracy, infrastructure constraints, lack of institutional capacity, and human rights and humanitarian challenges.
