INTERNATIONAL BUSINESS DEVELOPMENT: THE CASE OF MYANMAR ELECTRIC INDUSTRY

Purpose –This article is devoted to international business development issues taking into considerations the electric industry in Myanmar.
Methodology - The primary research methodology of this paper is based on conducting comparative and systematic analyses, causes and consequences analysis, methods of statistic grouping and expert assessment. It also implemented risk management analysis and market analysis in terms of the electric industry in Myanmar and ASEAN.
Originality/Value - Myanmar, previously known as Burma, is the second-largest country in South East Asia with a strategic geographic location bordering India, China, Thailand, Laos and Bangladesh having many contemporary attractive competitive advantages for international business development. The given research is studied the electric industry in the context of analysis of two big electric companies – ‘Thai Yazaki Electric’ (TYE) and ‘Peace Myanmar Electric Holding’ Company, operating both in Myanmar and ASEAN community. Thus, this paper presents the most contemporary analytical review of this current economic situation based on the latest data of 2016-2018.
Findings –It has been conducted the country’s macro-analysis, as well as micro-analysis of Myanmar’s cable and wire market including external and internal business environmental aspects. It has been studied the entry modes of the considered companies. On the basis of risk management methods, it is carried out the risk identification and risk assessment, and strategic risk management proposals are presented. Based on the current market review and strategic approaches to the competitiveness by M. Porter, it is revealed the positioning of companies and competitive advantages for the electric power industry within the domestic and foreign markets. Moreover, it is proposed the recommendations to accelerate the development of international business in the given industry.

1. Myanmar's Political and Economic Reforms to Bolster the Construction Market. Myanmar Construction Consulting [Electronic source]. – 2018. - URL: http://www.myanmarconstructionconsulting.com (Accessed: 7.01.2019).

2. Contemporary Myanmar Portfolio and Foreign Direct Investment. Trading in Economics. [Electronic source]. – 2018. - URL: https://tradingeconomics.com/myanmar/foreign-direct-investment (Accessed: 7.01.2019).

3. Official Website of Thai-Yazaki Electric Wire [Electronic source]. – 2018. - URL: http://www.thaiyazaki-electricwire.co.th/about.php (Accessed: 7.01.2019).

4. Official Website of PME Holding [Electronic source]. – 2018. - URL: https://pmeholding.com (Accessed: 7.01.2019). Siswanto J., Adityo A. (2017) ASEAN’s pathway to engage the world. East Asia Forum. [Electronic source]. - URL: http://www.eastasiaforum.org/2017/06/03/aseans-pathway-to-engage-the-world/ (Accessed: 7.01.2019).

5. Severino R. (2011) Politics of Association of Southeast Asian Nations Economic Cooperation. Asian Economic Policy Review [Electronic source]. - URL: http://www.hssjournal.org (Accessed: 7.01.2019).

6. Official website of the World Economic Forum [Electronic source]. – 2018. - URL: www.weforum.org (Accessed: 7.01.2019).

7. Official website of the International Monetary Fund. IMF’s World Economic Outlook database [Electronic source]. – 2018. – URL: https://www.imf.org (Accessed: 7.01.2019).

8. Official Website of the World Bank. Ease of doing business index [Electronic source]. – 2018. - URL: https://data.worldbank.org/indicator/IC.BUS.EASE.XQ?name_desc=fals (Accessed: 7.01.2019).

9. Roy S.K., Mutum D.S., Nguyen B. (2017) Services Marketing Cases in Emerging Markets: An Asian Perspective. Switzerland: Springer International Publishing, 184 p. ISBN 978-3-319- 32968-0.

10. Plummer M. (2016) The ASEAN Economic Community and the European Experience, ADB Working Paper Series on Regional Economic Integration Asian Development Bank, No.1, p. 65-68.

11. Sundararajan J.A. (2014) Regional Integration of Capital Markets in ASEAN: Recent Developments, Issues, and Strategies. Global Journal of Emerging Market Economies. [Electronic source]. - URL: http://journals.sagepub.com.ejournal.mahidol.ac.th/doi/pdf (Accessed: 7.01.2019).

12. Hays J. Environmental Issues in Myanmar [Electronic source]. – 2018. - URL: http://factsanddetails.com/southeast-asia/Myanmar/sub5_5h/entry-3144.html (Accessed: 7.01.2019).

13. Porter M. (1986). Competitive Advantage of Nations. New York Press, p. 75-78. Severino R. (2007) The ASEAN Developmental Divide and the Initiative for ASEAN Integration. Journal of Southeast Asian Economies, 24(1), p.28-42.

14. Tay S.S., Tijaja J.P. (2017) Global Megatrends: Implications for the ASEAN Economic Community. Singapore Institute of International Affairs. [Electronic source] URL: http://asean.org/storage/2017/09/Global-Megatrends-Implications-for-the-AEC_FULL.pdf (Accessed: 7.01.2019).