Thai firms in Ranong plan to move to Myanmar

BANGKOK, January 13 (TNA) - Many industrial firms in Ranong Province are planning to move their factories over to Myanmar because of the all-time high 300 baht minimum wage, which has been officially introduced in Thailand since January 1, 2013. That was confirmed in a press statement by the Ranong Industries Federation on Sunday, which also indicated that the current high labour costs and shortage of raw material in Thailand were key factors hurting its overall business competitiveness. Meanwhile, the Ranong Chamber of Commerce came out to add that several of its local business associations were now looking at establishing a free market zone at the border between Ranong and Myanmar’s Koh Song, where cross border tourism and trade had reached up to 15 billion baht annually. (TNA)