Case Study

Alternate Market Entry Strategies for Myanmar

The coronavirus global pandemic has resulted in changes to market entry strategies, hiring initiatives, and business development, forcing businesses to reevaluate their thinking about current and future growth. While our clients seek to strike the right tone during a countrywide health emergency in Myanmar, we foresee market alteration increased restrictions and demand for alternative market entry strategies.

When starting a business in Myanmar, the normal approach is to incorporate your company, hire staff then go-to-market with your product or service. This requires you to be physically on the ground in Myanmar to sign government documents, set up bank accounts and other formalities that can’t be done remotely. Thus, with the current restrictions imposed on entering Myanmar, the completion of all incorporation tasks are impossible.

How We Helped?

One example of a company we have assisted in the past twelve months had plans to enter Myanmar through the traditional methods decided to change their approach and opted to enter via an employer of record services provider (EOR); resulting in a faster route to market. Saving both time and money. The company, a well-known large MNC, will hire hundreds of employees over the coming years. 

Like many firms, they recognized huge potential in Myanmar, and due to the restrictions in place, they decided to change their market entry strategy.

By using MP&O’s Employer of Record (EOR) services they were able to skip the incorporation step and move straight to hiring their team and start trading. MP&O has become the host employer for their workforce on the ground. We take care of all local taxes, statutory filings for employee social security and registrations with the relevant Township Labour Office. We also extended additional services, including expense management, leasing the right office space and acting as their in-house HR & Admin team. This also allowed them to streamline their workforce and focus on their operation’s sales & marketing. 

MP&O is part of a group of companies that offer recruitment and corporate secretarial services: MyWorld Careers, Myanmar’s largest recruitment agency and FocusCore Myanmar, a market leader providing corporate secretarial, business licensing and bookkeeping services. 

Below is a step-by-step process that allowed them to start their business in Myanmar without having to incorporate their own entity:

Case Sutdy Icons (Black & Yellow)_SVG

1) We arranged a group call between the client’ management team, MP&O and MyWorld do discuss their human capital needs

Case Sutdy Icons (Black & Yellow)_SVG

2) An agreement was finalized between MP&O to act as the Employer of Record and Terms of Business was agreed with MyWorld to source candidates for their new business

Case Sutdy Icons (Black & Yellow)_SVG

3) MyWorld sourced and introduced qualified candidates within one week of the initial meeting

Case Sutdy Icons (Black & Yellow)_SVG

4) First, second and final interviews were completed within two weeks, and MyWorld ensured all finalists submitted to the client were complete with reference

Case Sutdy Icons (Black & Yellow)_SVG

5) The client decided on the successful candidates and informed MyWorld and MP&O the details of their employment. MyWorld handled all the necessary negotiations with the candidates and MP&O issued the offer letters and received confirmation.

Case Sutdy Icons (Black & Yellow)_SVG

6) MP&O prepared the employment contracts that were issued and signed on the first day of employment.

Case Sutdy Icons (Black & Yellow)_SVG

7) MP&O arranged for the leasing of a serviced office for the duration of the initial startup period of the client’s operations in Myanmar.

Case Sutdy Icons (Black & Yellow)_SVG

8) MP&O coordinated with the clients regional HR to arrange a virtual onboarding for all new employees on their first day and the Account Manager from MP&O also attended.

Case Sutdy Icons (Black & Yellow)_SVG

9) The client’s business started with their initial employees within 2 two months (this included the usual 1 one month notice period all candidates are required serve before leaving their existing employer) from the initial meeting with MP&O and MyWorld.

Case Sutdy Icons (Black & Yellow)_SVG

10) FocusCore and MP&O then worked together to provided support with HR, Admin and Bookkeeping tasks.

This all sounds relatively simple because it is. Find out how you can get your business up and running quickly without dealing with the potential travel risks and challenges entering Myanmar. Contact MP&O today.

Get in Touch