Thai business operators urged to invest in Myanmar, other ASEAN markets

BANGKOK, July 23 (TNA) - Thai business operators have been urged to expand their investment in other member countries of the Association of Southeast Asian Nations (ASEAN), especially Myanmar and Indonesia, as part of national preparations for the formation of the ASEAN Economic Community (AEC) by 2015. When making the suggestion at the "TMB Borderless on Stage 2012" seminar on the "AEC 2015 Prompt", organized in Bangkok Monday, Ath Pisalvanich, Director of Bangkok-based University of the Thai Chamber of Commerce's International Trade Studies Centre, insisted that Thai business operators, particularly small and medium-sized enterprises (SMEs) in the farm and fishery sectors, should, especially, explore ample investment opportunities in neighbouring Myanmar, where natural resources remain abundant ane costs of production, namely those of land and labour, are cheaper. Ath recommended that Thai manufacturers, including those in the automobile and parts industries, move first to expand and secure their status in Myanmar, amid growing competition with their counterparts from other ASEAN member countries. According to the senior academic, Thai business operators should, however, focus on joint ventures when expanding their investment into the neighbouring country to prevent themselves from risk factors, namely limitations in foreign direct investment (FDI), as well as infrastructure and utility systems. The senior academic proposed that the Thai government play a leading role in supporting and guiding local business operators to expand their investment in Myanmar, covering providing them with officially-translated Thai version of all relevant Myanmar laws to reduce the risks. The Thai economic expert pointed out that Indonesia, despite its seismic threat, is another most promising market for Thai investors, particularly in the food, beverage and construction materials businesses, thanks to its largest economy in the 10-nation ASEAN with easier access to business facilities, abundant natural resources and high purchasing power among consumers. Vikran Pawarojkit, Vice President of TMB Bank Public Company Limited (TMB), acknowledged, meanwhile, that most Thai financial institutes have now accelerated adjusting themselves toward the AEC through, among other strategies, enhancing cooperation with their counterparts in other ASEAN countries. (TNA)