THAI enterprises should not delay when considering business and trade opportunities with Myanmar, otherwise they may lose out to other foreign investors, said Aung Than, vice chairman to the Mandalay Chamber of Commerce in Myanmar.
With the ASEAN Economic Community (AEC)
scheduled to commence in 2015, Aung Than said many foreign investors,
particularly those from China, were already in Myanmar looking to reap
benefits from the country's new openness.
"Thais are still investing less in
Myanmar compared with other [regional players]. Although the cost of
land is rapidly rising, Thai enterprises still have a competitive edge
as there are many Thai industry experts. Thais also have a close
relationship with the people of Myanmar," he said.
Japan and China, said Aung Than, were
already investing in many industries in Myanmar, especially in Yangon
and Mandalay. Aung Than said he wanted to see more Thais investing in
those destinations as Thailand's cultural routes were similar to those
of Myanmar. He added that Thais were also polite and easy to talk to.
Thai joint ventures would also attract
more interest among local people as Thais were trusted and many Thai
products were already recognised in the country, he said, adding that
Thai goods sold in the country were double the price of Myanmar goods.
Aung Than suggested that more Thais
should also learn Burmese so that they could more easily find partners
and understand the local market.
Interesting business opportunities for
Thais in Myanmar included manufacturing of consumer goods, construction
materials and the service sector industry - such as hospitals. Aung Than
pointed out that many wealthy people in Myanmar preferred to travel to
Thailand for health checks and medical treatment, because the standard
and service was much better than in Myanmar.
Opportunities in farm sector
Aung Than, also an owner of the Three
Star-Gram Mill in Mandalay, said that it would be easy for Thai
agriculture and rice producers to find investment opportunities in
Myanmar's farming sector, because of their expertise and knowledge in
farming technologies.
U Sai Kyaw Htin, managing director of
Anchor-ma, a Mandalay producer and importer of cement blocks, said he
hoped the AEC would help increase the competitiveness of Myanmar
enterprises.
He said many local enterprises were
interested in joint ventures with foreign investors - especially Thais -
to help them develop their businesses and become international traders.
Srirat Rastapana, director-general to
the International Trade Promotion Department, said there were great
opportunities for Thai investors to grow in Myanmar, as there was a high
demand for goods and services in the country.
With its emerging growth and large
population, many foreign investors had begun pouring investment into
Myanmar, and Thailand, which has close ties with Myanmar, should
urgently explore the market. She pointed out that some Thai commercial
banks had already opened offices there to facilitate Thai investors.
She said Myanmar would be a perfect
partner for Thailand if Thai investors promised to recognise local
practices and offered mutual benefits. Plenty of opportunities could
also be found in all sectors including farming, trade and industry, and
service sectors. Besides the local market, Thai investors would also
benefit from export privileges granted by Western countries. Thai
enterprises should therefore not hesitate to investment, she said.
To facilitate Thai traders and
investors, the department has also set up a consultation office in
Yangon with in-depth information about the Myanmar economy, its rules
and regulations, as well as a list of contacts with local traders.
source: Eleven Myanmar
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