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Corporate Governance: MIOD To Promote Corporate Governance Standards

22 March 2018

Aiming to promote corporate governance standards and best practices in Myanmar, an independent, private sector-led organization named the Myanmar Institute of Directors (MIOD) was launched in Yangon on Thursday.

MIOD was formed with support of the International Finance Corporation (IFC).

MIOD’s activities include providing board and corporate governance training, awareness programs, workshops, seminars and certification programs on governance topics and advocating for market reforms.

Chairman, Myanmar Institute of Directors (MIOD), Aung Zaw Naing said "We intend to promote corporate governance, and raise awareness of good governance and best practices in line with the international standards by professionalizing their boards of the Myanmar companies. We also targeted to advance board professionals between corporate leaders, stakeholders, promote business ethics and boost investor confidence in Myanmar’s private sector."

Meanwhile, MIOD board members discussed how Myanmar’s rapid economic growth and evolving regulations call for improving corporate governance practices at the event. 

Chairman, UN Global Compact Network Myanmar, Prof. Aung Tun Thet said "As the company needs good governance, this is a first step for good corporate governance in the country and MIOD will help to improve performance on corporate governance and boost investor confidence in the near future. So, we have to implement the good governance corporate with the international experiences and practices in the country."

The Audit Committee Master Program which is the very first training of MIOD will take place on March 27-28.