Moving in on Myanmar : is this Singapore's moment?

• Main Authors: Tay, Mark Hiok Leng., Ng, Jasmine Zi Ting., Chung, Krystal Faith Ai Jia.
• Other Authors: Cherian George
• Format: Final Year Project
• Language: English
• Published: 2013
• Subjects: DRNTU::Business::General::Economic and business aspects
• Online Access: http://hdl.handle.net/10356/52573
• Institution: Nanyang Technological University

Moving in on Myanmar is a final-year business journalism project on Singapore’s investment in Myanmar. It explores the attractiveness of Myanmar as a business destination and how Singapore, with its historical relations with the country, is faring in the race for deals in the emerging market. Focusing on this central theme, the feature package contains a total of three main stories (of at least 2,000 words), two shorter stories (about 1,500 words each) and three sidebars (totalling 1,000 words). The first story is an overview piece that sets the tone for the rest of the package. It describes the current foreign investment frenzy in Myanmar and how Singapore’s strong relationship with Myanmar through the years has given the former a leg up in gaining a share of the market. But as Singapore’s rivals are offering huge amounts of official developmental assistance to cash-strapped Myanmar in exchange for deals, the Republic may lose its competitive edge. The story also consolidates Singapore Inc’s business in Myanmar over the years, the presence it has established in the country, and introduces readers to the key players in industries such as tourism, banking and education. The story is accompanied by a timeline of the major events in Myanmar’s political history that have shaped the country’s state of business and economy, as well as two sidebars. The first explains Myanmar’s name change (from Burma) and sets the record straight on the adjective used to describe Myanmar’s culture, language and the people – not ‘Myanmese’, ‘Myanmarese’ or ‘Burmese’ as reported by local and international media, but simply, Myanmar. The second sidebar is on the International Enterprise (IE) Singapore’s role in helping Singaporean companies wanting to enter Myanmar. As there is a lack of reliable statistics and information about the process of setting up a business there, IE Singapore steps in to help Singapore businessmen establish contact with the necessary partners and to facilitate investment. The second story, a minor piece, delves into the cultural differences Singaporean businessmen can expect to run into when doing business with their Myanmar partners. As with all countries, Myanmar has its own unique set of cultural traditions and idiosyncrasies. Some of these are fascinating, some require sensitivity; others require businesses to adjust. The main grouse of Myanmar businessmen when dealing with Singaporeans is that the latter tends to adopt an overly rigid approach to doing business. A clash of cultures can, hence, get in the way of Singapore’s investment. This story highlights the importance of being culturally sensitive in order to achieve successful business ventures.