Businessmen urged to invest in Myanmar SEZ

BANGKOK, Feb 4 (TNA) -- Deputy Prime Minister Somkid Jatusripitak urged Thai businesspeople to invest at the Thilawa Special Economic Zone (SEZ), located on the outskirts of Yangon in neighbouring Myanmar. Mr Somkid said Friday while paying a four-day official visit to Myanmar, began February 2 that the Myanmar government is inviting foreign investors to invest in its country so it is a good opportunity for both the Thai government and businesspeople to discuss on ways to set up a new SEZ in Myanmar. Many factories are being built at Phase 2 Thilawa SEZ, jointly invested by Myanmar and the Japanese at the ratio of 51 and 49 per cent respectively, said Mr Somkid, adding that Thai businessmen ought to explore ways to invest in Myanmar which is strategically located between two most populous countries in the world – China and India. Meanwhile, Jareeporn Jarukornsakul, CEO of WHA Corp Pcl said her company is keen to invest in Myanmar industrial estate and is looking for areas near the former capital Yangon. The areas must be equipped with better logistics than the present Thilawa SEZ, said Ms Jareeporn. Another businessman Vikrom Kromadit, CEO of Thai industrial estates provider Amata Corp Pcl., said his firm had several times in the past explored ways to invest in Myanmar and found that the country is suitable for Thai businessmen because of cheap labour wages which are lower than Thailand about three times. Mr Vikrom said while the efficiency of Myanmar workers is good, inflation in the country is also not high while it is still enriched with natural resources. (TNA)