Sunday, May 4, 2014

Myanmar tipped as new haven for Thai investment

Myanmar is now becoming a new investment haven for Thai businessmen with growing interest for joint ventures with Myanmar private sector.

Kasikorn bank’s managing director, Theetanant Srihong stated that  most of the Thai  business operators are looking to form joint ventures with the country’s private sector to bypass  Myanmar  legal complications and issues of high public utility cost.

He said 20-30% of investors scouting opportunities in Myanmar ended up entering into such joint ventures.
But he said the number of investments by Thai businesses is still behind that of Singapore, but the pace has visibly quickened.

The first group of investors penetrating Myanmar markets are the large and medium enterprises from the trading sector, and those business operators who are aligned with Japanese entrepreneurs.

He said that the latter followed their Japanese partners when they expanded their investment base into the nation.