The Road to Mandalay
Business in Yangon is booming. As well-heeled executives fill the business lounges of the few international hotels across the city, it’s clear that investors are eager to enter Myanmar as its market opens to the world. The head of FTI Consulting Strategic Communications practice in Singapore, Tom Evrard looks at how these executives can best use stakeholder engagement to navigate the complexities of a successful entry into Myanmar, Southeast Asia’s new frontier.
Gone are the days when a firm could simply ease its way into the market with little to no consideration for local requirements. Today, when looking to enter a market, businesses are obliged to consider a host of factors from local regulatory circumstances and environmental impact to societal consequences and international media scrutiny. Beyond a license to operate, companies now need a comprehensive plan to condition the market prior to their arrival and to help stakeholders better understand their intentions. Nowhere is this more so than in Myanmar, where isolationist military rule has given way to a civilian government extending its welcome to the international community.