SkyscraperCity banner

61 - 80 of 90 Posts

·
Kiwi to the rescue
Joined
·
1,973 Posts
Thai Investors and Federation of Thai Industries SHOCKED with the new Foreign Investment Law of Burmese government due to the following provisions:

1. Foreign investors are not allowed to set up the factories within 10 miles (16 km) radius from the border other than the designated special zones - need for further discussion since it is going to violate AEC
2. Foreign investors have to employ Burmese technicians 25% in the first 2 year, 50% within 4 years and 75% within 6 years - still shortage of local Burmese technicians
3. Technology Transfers including trade secrets.
4. Foreign investors must be ready to sell the stocks to local Burmese enterprises by the order from Foreign Investment Committee at any time.
5. Foreign investors cannot set up the logistic companies to compete against the local logistic companies.
6. uncleared law on FOREX transactions
7. No connection with Company act and Special Economic Zone act
http://www.prachachat.net/news_detail.php?newsid=1351662859&grpid=10&catid=19&subcatid=1901
Umm, No offense, but that sounds absolutly rediclous :nuts:
 

·
Liberty, Equality, Frate
Joined
·
121,821 Posts
Discussion Starter · #63 ·
Thailand, Myanmar aim to triple trade by 2015

THE NATION November 3, 2012 1:00 am

Thailand and Myanmar have declared a goal of tripling bilateral trade by 2015 from US$6.1 billion (Bt187 billion) at present under the Asean Economic Community (AEC) and closer cooperation through the Joint Trade Commission.

After the sixth JTC meeting between Thailand and Myanmar in Bangkok yesterday, Commerce Minister Boonsong Teriyapirom said the two sides had agreed to strengthen trade and investment by eliminating tariff and non-tariff barriers.

The focus will be on trading across border checkpoints, which accounts for a large portion of trade between the two countries.

The two sides will organise trade fairs in provinces along the border, and promote exchanges of officials, traders and investors to support investment growth in both countries. Meetings will be held to discuss elimination of trade barriers and facilitate investment growth, especially in industrial estates and special economic zones, as well as to support Thai investors in Myanmar's energy sector.

The countries will also regularly exchange information on trade rules and regulations to keep investors and traders up to date.

Boonsong said Thailand would help Myanmar develop its infrastructure and make temporary border checkpoints permanent. The Kingdom has asked Myanmar to support Thai enterprises looking to invest in the Dawei project and in other parts of the country.

Thailand and Myanmar will strengthen cooperation in the banking sector, focusing on their central banks to ensure a stable baht-kyat exchange rate.

Myanmar is only Thailand's sixth-largest trading partner in Asean. Bilateral trade was up by 25 per cent year on year to $6.1 billion last year. About 85 per cent of this was in the form of cross-border trading.

The investment picture is different, however, with Thailand the second-biggest foreign investor in Myanmar after China. Since 1988, combined Thai investment in Myanmar was worth $9.5 billion. Most of it went to the energy, electricity, manufacturing, fishery and livestock sectors.

Additionally, Thailand has persuaded Myanmar to cooperate on rice trading to increase the collective bargaining power of Asean countries.

Boonsong said Thailand would continue to pursue closer cooperation on rice trading with Myanmar and other Asean countries. The Commerce Ministry plans for Thailand and other Asean rice producers including Myanmar, Vietnam, Laos and Cambodia to announce the establishment of a rice-trading cooperation framework at the upcoming Asean Leaders Summit in Cambodia.

http://www.nationmultimedia.com/business/Thailand-Myanmar-aim-to-triple-trade-by-2015-30193589.html
 

·
Registered
Joined
·
26,685 Posts
Traders Demand Official Border Exchange Rates
The Irrawaddy reporter Pyi Taw Myint contributed to this story.
By LAWI WENG /
BUSINESS
THE IRRAWADDY| October 30, 2012 |



Kanbawza Bank Ltd. in Mayawaddy Town, Karen State. (Photo: Pyi Taw Myint / The Irrawaddy)


Burmese traders in Myawaddy, across from the Thai border town of Mae Sot, want the Naypyidaw government to boost business by expanding the country’s new official rate of currency exchange to include the Thai baht.

“Thailand never has a higher value for their currency as their banks control the value and set the official rate, but not at Burmese banks. We suffer a lot when we have to buy things and change money,” said U Hamid, a local businessman.

Burmese traders must rely on Thai banks, which set daily currency exchange rates, as there are no Burmese banks offering alternatives over the border. The rate on Tuesday was 3.70 baht per 100 kyat, according to local sources.

After political changes were introduced in Burma earlier this year, the government set official rates of exchange with the US dollar in Rangoon. And businessmen are now demanding the same happens with the currencies of neighboring countries at the border.

Traders at Burma’s eastern border say they have suffered for many years having to purchase Thai goods in Mae Sot every day which are then exported to different parts of Burma—paying over the odds for currency exchange each time.

“If the government wants to have good border trade, it must adjust the official rate of exchange at the border,” said U Hamid.

There are five Burmese banks in Myawaddy Town included Myanmar Economic Bank, Myanmar Livestock and Fisheries Development Bank Ltd., Kanbawza Bank Ltd., Ayeyarwady Bank Ltd. and Myanmar Industrial Development Bank Ltd.

However, traders say that these branches can only transfer money from the border to other parts of Burma and not perform currency exchange. Aye Maung, another border trader in Myawaddy Town, Karen State, also said that the banks do not even allow large sums to be deposited in Rangoon and then withdrawn elsewhere.

He said that the banks ask too many questions such whether their cash is black market money or if tax has already been paid on it when he tries to make a large deposit.

“We have to carry bags of money when we come from Rangoon. We cannot deposit at the banks,” said Aye Maung.

Myanmar Industrial Development Bank Ltd. claimed on Oct.18 that it will open a center of official exchange rate to help border traders, but this plan has not yet been implemented even though the local branch has already opened.

“They say they will do [official exchange] but it has not happened yet. Many people have to carry their cash with them when they come to the border,” said a trader called Mon Kyi.

There are around 100 private money exchanges in Myawaddy Town that all border traders must rely on it. As a consequence of the lack of official rates, many migrants who return to Burma from working in Thailand claim they get exploited when exchanging their wages.

Border traders in Myawaddy say that if Burmese banks could offer 24-hour exchange services with an official rate, business in the area would receive a boost. Myawaddy Town is second largest border trading zone in Burma after Muse by the Chinese border in Shan State
 

·
Liberty, Equality, Frate
Joined
·
121,821 Posts
Discussion Starter · #65 ·
Thailand to push for Dawei special economic zone development

BANGKOK, Nov 2 -- The high-level Thai Myanmar officials meeting in Bangkok next week will focus on the development of Dawei Special Economic Zone and its related project areas, according to Deputy Prime Minister/Foreign Affairs Minister Surapong Tovichakchaikul.

Mr Surapong said the Myanmar Vice President will lead ministers who supervise six related areas in the Dawei project to Thailand on Tuesday and is scheduled to meet Deputy Prime Minister/Finance Minister Kittiratt Na Ranong on that evening for dinner and preparatory discussions for the high-level officials meeting on Wednesday.

The meetings will take place at Government House and be divided into two groups, a high-level official meeting co-chaired by Mr Kittiratt and the Myanmar vice president; the coordinating level official meeting co-chaired by Minister Attached to the Prime Minister’s Office Niwattumrong Boonsongpaisan and the Myanmar industry minister, he said.

Mr Surapong said that, during the meeting, Thailand and Myanmar will discuss infrastructure projects including electrical power system, tap water, and the road and communication network. Both sides will consider details of investors in the project and how to invest for mutually benefit. Thailand and Myanmar will sign an Exchange of Notes on establishing three levels of Thai Myanmar joint committees to implement a Memorandum of Understanding (MoU) on the development of Dawei Special Economic Zone and its related project areas.

The meeting may discuss the planned bilateral meeting between Thai Prime Minister Yingluck Shinawatra and Myanmar President Thein Sein on the sidelines of the ASEAN Summit in Cambodia Nov 15-20. On Wednesday afternoon, Mr Kittiratt will lead Myanmar delegates to visit Chon Buri's Laem Chabang Industrial Estate and Rayong's Map Ta Phut Industrial Estate. (MCOT online news)

http://englishnews.mcot.net/site/content?id=5093b08da26cb3320b000052



 

·
Liberty, Equality, Frate
Joined
·
121,821 Posts
Discussion Starter · #66 ·
Dawei group crosses fingers Still no word on origin of funding sources

Published: 8/11/2012 at 12:00 AM Newspaper section: Business

Thailand and Myanmar expect to finalise details of the joint development plan for the massive Dawei project in three or four months so that construction can begin next April.

The two countries yesterday reaffirmed their commitment to joint development of a US$50-billion special economic zone (SEZ) and a deep-sea port in eastern Myanmar during the visit of Myanmar Vice President Nyan Tan to Bangkok.

Mr Nyan Tan, also co-chairman of the Myanmar-Thailand joint high-level committee for the Comprehensive Development of the Dawei SEZ and its related project areas (JHC) met with Prime Minister Yingluck Shinawatra and Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong, who is also the co-chairman of the JHC.

After the meeting, Mr Kittiratt said six subcommittees were appointed and started work immediately. Work from these subcommittees will be submitted to a meeting in Nay Pyi Taw next month of the coordination committee chaired by the PM's Office Minister Niwatthamrong Bunsongphaisan and Myanmar's industry minister.

The JHC will meet again next March to finalise details of the Dawei project, he said, declining to confirm whether the Thai government will spend money for joint development of the project in Myanmar.

"Both sides agree this project is very important to not only Thailand and Myanmar but also the Greater Mekong Subregion and perhaps the world too, as it will connect the Pacific with the Andaman Sea," said Mr Kittiratt.

But given that the Dawei project is so huge, the development will be done in phases starting with light and labour-intensive industries before heavy industries are built later, he noted.

"The confidence from international investors is the key, and so far several international organisations have expressed their interest in supporting the project. The more participation the better," said Mr Kittiratt.

Italian-Thai Development Plc, the country's largest contractor by market value, has been granted a concession to develop the Dawei project consisting of infrastructure worth $8.5 billion for the first phase.

Transport Minister Chatchart Sithipan, who was named the chairman of the subcommittee on infrastructure, said details will be finalised within a month including the sources of funding for roads, rail and port construction as well as water supply.

The immediate task is to accelerate construction of nearly 100 kilometres from Nonthaburi through Nakhon Pathom to Kanchanaburi. This route will be connected with a road running from the Thai-Myanmar border in Kanchanaburi to Dawei, said Mr Chatchart.

Somchai Sujjapongse, director-general of the Fiscal Policy Office, said all the details of Dawei including the financing will be concluded in the next three or four months.

Ms Yingluck said the Thai government will speed up the Dawei project, while the JHC should set priorities for which infrastructure projects to develop.

A Government House source said the priority projects include a power plant, the 132-kilometre road from the Thai border to Dawei and the port.

The first phase of investment is worth 120 billion baht for roads, a power plant and a deep-sea port, while another 81 billion is required for infrastructure and facilities in the SEZ.

Ms Yingluck told Mr Nyan Tan that Thailand and Myanmar may announce the results of the JHC at the Asean Summit Meeting in Cambodia next month in order to encourage potential investors.

Mr Nyan Tan said Myanmar expects the JHC meeting will inspire investor confidence, especially among Thai investors, who are the second-largest foreign investors in Myanmar, with 27% of total direct investment.

http://www.bangkokpost.com/business/economics/320090/dawei-group-crosses-fingers

 

·
Liberty, Equality, Frate
Joined
·
121,821 Posts
Discussion Starter · #67 ·
Toyo-Thai getting into Myanmar power business through two JVs

THE NATION November 10, 2012 1:00 am

Toyo-Thai Corporation (TTCL) is seeking opportunities in Myanmar's power business through the establishment of two joint ventures in that country.
One of the JVs will have Thai Summit Group as a partner.

The expansion follows a memorandum of understanding signed with Myanmar's Ministry of Electric Power on August 10, which paved the way for greater collaboration for developing a 100-megawatt power plant in Yangon.

The integrated engineering firm said on its website that it "is optimistic about its overseas expansion plans after the company signed the MoU".

"The agreement was made possible through the company's solid experience along with its close ties with the Myanmar community, in which Toyo Thai-Myanmar Corp (TTMC), a subsidiary of TTCL, was established last year," the company said.

"At present, the company is training 30 Myanmar engineers at its Bangkok head office and plans to employ 50 Myanmar engineers for preparation of future operations."

In a filing to the Stock Exchange of Thailand yesterday, TTCL said its board of directors had approved the establishment of Toyo Thai Power Corp in Singapore (TTPSG) as a 60:20:20 joint venture with 8 Coins Capital and Pacific New Power. The joint venture will be capitalised at US$42.5 million (Bt1.32 billion).

Through TTPSG, it will set up a 50:50 joint venture in Myanmar to operate a power plant. The company will be capitalised at $500,000.

Another 40:60 joint venture will be established in Myanmar to invest in the power business. With Thai Summit Group holding 60 per cent, Thai Summit-TTCL Power Co will be capitalised at Bt1 million.

TTCL, the first all-around engineering company in Thailand, was incorporated in 1985 by a joint venture of Italian-Thai Development, one of the biggest contractors in the country, and Toyo Engineering Corp, a leading international engineering company in Japan.

In the third quarter of this year, Toyo-Thai reported net profit of Bt151.4 million, 16.6 per cent higher than the same period last year. In the first nine months, its net profit reached Bt341 million.

http://www.nationmultimedia.com/bus...nto-Myanmar-power-business-thro-30194037.html
 

·
Liberty, Equality, Frate
Joined
·
121,821 Posts
Discussion Starter · #68 ·
Norway helps Myanmar reform electricity law

Published: 12/11/2012 at 12:25 PM

Norway has pledged $850,000 to help Myanmar update its 1984 Electricity Law to meet current international standards, according to the Asian Development (ADB).

The reforms are intended to create the right conditions to support a move toward more market-oriented practices electricity service expansion takes place.

“Energy access for all is a priority for Norway. Without access to modern energy, there can be no development,” said Espen Barth Eide, Norway’s minister of foreign affairs during a visit to Myanmar on Nov 5.

“Having an updated Electricity Law, putting the proposed law into use, and conducting initial capacity building on principles of electricity regulation are essential for the development of Myanmar’s power sector.”

The ADB said the grant would support the review of current energy laws and drafting of new energy legislation best suited to the country’s needs.

The changes aim to promote private-sector participation in power generation by establishing rules that will allow small independent power producers to promote off-grid electrification as well as rural electrification programmes.

According to the ADB, the legislation is expected to take 18 months to draft and implement, with completion targeted for June 2014.

In order to support the development and expansion of infrastructure, the country needs to amend the electricity law to reflect realistic conditions in line with national economic growth as well as international law in the region.

Only about a quarter of Myanmar’s 60 million people have access to electricity supply, and the country needs to undertake many hugely ambitious projects. Improvement in electricity generation is also seen as a great contribution to poverty reduction.

The transformation of its dilapidated national electricity grid is a long and burdensome process, but it will be a vital component of the country’s economic reforms.

http://www.bangkokpost.com/business/economics/320812/norway-helps-myanmar-reform-electricity-law
 

·
Liberty, Equality, Frate
Joined
·
121,821 Posts
Discussion Starter · #69 ·
Bilateral Meeting between the Prime Minister of the Kingdom of Thailand and the President of the Republic of the Union of Myanmar

Nov 19, 2012 20:47:21 / Read 1 Views

On 19 November 2012, H.E. Ms. Yingluck Shinawatra, Prime Minister of the Kingdom of Thailand, and H.E. U Thein Sein, President of the Republic of the Union of Myanmar, held a bilateral meeting, on the sidelines of the 21st ASEAN Summit and Related Summits, in Phnom Penh. Both leaders exchanged views on bilateral cooperation, particularly on the cooperation on the development of Dawei Special Economic Zone. Both sides pledged their full commitment to working together for the realization of this project.

The two leaders expressed their satisfaction with the successful outcome of the 1st Joint Committee Meeting on the Comprehensive Development in the Dawei SEZ that was held in Bangkok on 7 November 2012, under the co-chairmanship of H.E. U Nyan Tun, Vice President of Myanmar, and H.E. Kittiratt Na Ranong, Deputy Prime Minister of Thailand. The Joint Committee Meeting identified the core priority projects to be completed by 2015 and assigned the relevant Sub-committees to quickly put together work plans in their respective areas. The Joint Coordinating Committee, a coordinating body of the Joint Committee, will meet again in Myanmar in December 2012. In this regard, both leaders agreed to collaborate in inviting all potential partners and interest parties to participate and invest in this very important project.

On this occasion, both leaders released the following joint statements:

1. Joint Statement on Myanmar – Thailand Cooperation the Comprehensive Development in the Dawei SEZ and Its Related Project Areas. The Joint Statement underlined the progress made by the Joint Committee and identified eight core priority areas, namely, toll road, deep seaport, industrial estate, power plants, water supply and waste water system, telecommunication, high speed train, and community development.

2. Joint Statement on Myanmar – Thailand Cooperation on Investment Promotion for the Comprehensive Development in the Dawei SEZ and Its Related Areas. The Joint Statement emphasized the significance of the Dawei Project to the expansion of regional connectivity and economic development. They also extended invitation to all potential partner countries and international investors to participate in this very important Project.

3. Joint Statement on the Establishment of Energy Forum, in which both Governments declared their intention to establish an Energy Forum to promote closer cooperation in the area of energy sector.

In addition, both leaders took part in the presentation ceremony of two gas turbine power generation units from the Government of Thailand to the Government of Myanmar in support of Myanmar’s hosting of upcoming international events, such as the World Economic Forum on East Asia and the SEA Games in 2013 as well as Myanmar’s ASEAN Chairmanship in 2014.

http://www.mfa.go.th/main/en/media-...Meeting-between-the-Prime-Minister-of-th.html







 

·
Liberty, Equality, Frate
Joined
·
121,821 Posts
Discussion Starter · #70 ·
Thailand provides US$100,000 to help victims of violence in Myanmar

BANGKOK, Nov 30 - Thailand has provided US$100,000 in humanitarian aid to the Myanmar government to assist victims of violence in Rakhine state, a Thai foreign ministry official said on Friday. East Asian Affairs Department Director-General Damrong Kraikruan said Deputy Prime Minister/Foreign Minister Surapong Tovichakchaikul presented the financial assistance to Myanmar Ambassador Tin Win in Bangkok.

The financial aid will be granted to Myanmar people who have been affected in the violent clashes between Buddhists and Muslims, mostly Rohingya, in the western state. Mr Damrong said the Thai government is confident in the Myanmar government's approach to solve the conflict and that it believes the unrest was caused by communities' conflict and that the Myanmar government did not get involved in the conflict.

He said Thailand also believes the Myanmar government has done its best and that it is ready to cooperate with the world community to tackle the problem. As Thailand is Myanmar's close neighbour, he said, the kingdom stands ready to help clarify the situation in Myanmar to the world community for better understanding on the issue. The deadly clashes in Rakhine state since May have left at least 167 people dead and 100,000 people homeless, most of them Muslims. (MCOT online news)

http://www.mcot.net/site/content?id=50b8974b150ba0665e00033b
 

·
Liberty, Equality, Frate
Joined
·
121,821 Posts
Discussion Starter · #71 ·
Trade, investment mission to Myanmar

THE NATION December 5, 2012 1:00 am

The Board of Trade of Thailand and the Thai Chamber of Commerce (TCC) next week will lead a mission to seek new trade and investment opportunities in Myanmar.

The mission takes place amid the backdrop of fears of a serious impact on the business sector from the nationwide minimum-wage increase to Bt300 per day in the new year.

Phongsak Assakul, who heads up both organisations, yesterday said many Thai enterprises were keen to invest or form joint ventures in Myanmar as it has the highest growth potential in Asean, with the capability of serving expanding manufacturing and service businesses while possessing a large market to serve domestic growth.

"Many leading businesses in the Kingdom will look for new opportunities in Myanmar as it has lower labour costs and high consumer demand. To invest and do businesses in Myanmar will increase the competitiveness of Thai businesses," he said.

About 20 leading enterprises will take part in the private-sector mission to Yangon from December 16-18. They include Saha Group, Mitr Phol, Thai Beverage and Kasikornbank. Business areas such as logistics, freight, cross-border trade, machinery, foods, jewellery, telecommunications, education, hospitals and hotels will be represented.

Representatives from the Board of Trade and the TCC will meet with enterprises from the Union of Myanmar Federation of Chambers of Commerce and Industry to discuss the boosting of trade and investment between the countries.

Phongsak described Myanmar as one of the best destinations for Thai investors thanks to its proximity and much lower labour costs. The daily wage in the country ranges from Bt75 to Bt120, while salaried workers earn only Bt3,000-Bt6,000 per month.

LABOUR-INTENSIVE OPERATIONS

Many Thai companies with labour-intensive operations are expected to set up in Myanmar or expand their businesses there, using the country as a production base for shipment to other regional markets, he said.

TCC vice chairman Somkiat Anuras said closer cooperation between Thai and Myanmar enterprises should help promote cross-border trade with the Kingdom's neighbours to Bt2 trillion in the next three years.

This year, however, overall cross-border trading is expected to miss the target of Bt1 trillion, coming in at Bt900 billion because of the impact of the global economic slowdown. Border trade was worth Bt759 billion in the first 10 months of the year.

With the policy of focusing more on Asean markets, cross-border trade should grow strongly to Bt2 trillion by 2015, Somkiat said.

Myanmar is Thailand's second-largest cross-border trading partner, after Malaysia. Bilateral trade with Myanmar grew by nearly 11 per cent to Bt145.88 billion during the first 10 months of the year.

Meanwhile, Bhumindr Harinsuth, vice chairman of the chamber, said members of the private sector would tomorrow finalise discussions on relief measures in connection with the impending minimum-wage increase, and would summarise their proposals to the government on December 14.

The proposed measures include the establishment of a fund to help small and medium-sized enterprises.

Phongsak said Thai gross domestic product was expected to expand by 4-5 per cent next year, boosted by ICT (information and communication technology) business expansion as a result of licensing for third-generation cellular service, plus growth in the construction, insurance and automobile industries.

However, the chamber projects that exports could grow by no more than 5 per cent next year on global economic concerns.

http://www.nationmultimedia.com/business/Trade-investment-mission-to-Myanmar-30195604.html
 

·
Liberty, Equality, Frate
Joined
·
121,821 Posts
Discussion Starter · #73 ·
Traders target Myanmar

Published: 7/12/2012 at 12:00 AM Newspaper section: Business

Thailand ramped up its shipments to Myanmar to capitalise on the opening of its economy, with an aim to raise export growth with the country by 30% next year.

Somdet Susomboon, assistant director-general of the International Trade Promotion Department, said a Thai delegation of state authorities and businesses would participate in the Thailand Trade Exhibition from Dec 6-9 in Yangon and Dec 13-16 in Mandalay.

The trade show will feature 259 booths and 220 exhibitors, comprising Thai consumer products, health and beauty products, construction materials, home furnishings and furniture, electronics and electrical appliances, and apparel.

"The event will give Thai entrepreneurs an opportunity to meet potential partners in Myanmar to raise their export channels," said Mr Somdet. "It also gives Myanmar consumers a first-hand look at the quality, design and diversity of Thai products."

For the first 10 months of the year, two-way trade between Thailand and Myanmar totalled US$5.46 billion (170.34 billion baht), with exports from Thailand making up $2.54 billion, a rise of 10%.

Thai exports to Myanmar are expected to grow 12% this year to $3.19 billion.

Prajuab Supiness, director of the Thailand Trade Office in Yangon, said export promotion activities to Myanmar are even more active next year as there are over 50 trade missions planned by organisations such as the Federation of Thai Industries, the Thai Chamber of Commerce and the Board of Investment.

http://www.bangkokpost.com/business/economics/324940/traders-target-myanmar
 

·
Registered
Joined
·
26,685 Posts
Growing Thai investment and Thai tourists in Burma has compelled more and more Burmese Students to study Thai language - now 200 out of 2000 Burmese students of 4-year Collage degree level have enrolled to study Thai language as implied by Dr Win Win Saw of Yangon University of Foreign Languages (YUFL) even though English and Chinese are the foreign languages of choices. There will be 60 newly graduated Burmese students on Thai language for each year started in 2013 though. Thai - Burmese exchanged students will be the next on the line but the plan have to be drafted properly.
http://www.prachachat.net/news_detail.php?newsid=1354857191&grpid=00&catid=19&subcatid=1901
 

·
Liberty, Equality, Frate
Joined
·
121,821 Posts
Discussion Starter · #76 ·
20 Thai companies to explore Myanmar

Published: 13/12/2012 at 12:00 AM Newspaper section: Business

The Thai Chamber of Commerce (TCC) will take 20 leading firms to Myanmar to explore trade and investment opportunities in the neighbouring country.

The three-day trip starting Sunday will be joined by executives from industries including sugar, food, banking, property, textiles, hotels and tourism.

TCC chairman Pongsak Assakul said the group will meet Tin Naing Thien, Myanmar's minister for national planning and economic development, to discuss new investment regulations and the country's economic prospects.

Myanmar has rich natural resources and will enjoy tax privileges next year from the Generalised System of Preferences granted by developed countries.

Mr Pongsak said Myanmar's low wages are attractive for investors, with a daily minimum wage of 75-120 baht and monthly salaries of 3,000 to 6,000 baht for workers with a bachelor's degree.

Mr Pongsak, who is a member of the Joint Public Private Consultative Committee, will also represent businessmen on the government's official trip led by Prime Minister Yingluck Shinawatra to meet Myanmar President Thein Sein in Nay Pyi Taw next Monday.

The working group of the two countries will meet to evaluate the progress of the Dawei project in Myanmar.

"The project is one of Thailand's strategic plans to invest in logistics in the East the country," Mr Pongsak said.

However, the project will take at least five years to become operational.

The TCC chairman also admitted Thai exports will expand at a slower pace than the 15% projected by the government early this year.

Economic growth this year will likely be 5.5%, with a forecast of 4.5% next year due to negative factors in the US and Europe.

http://www.bangkokpost.com/business/economics/325876/20-thai-companies-to-explore-myanmar
 

·
Registered
Joined
·
26,685 Posts
Burmese government lifting the ban on 7 imported production from Thailand out of 15 contraband products through the border - after the ban has been slapped since 26 Nov 1998 until 11 June 2011 to be listed as follows.

1. MSG
2. Syrup, and drinks
3. Canned food [meat, fruit]
4. All types of noodle including instant noodle
5. Fresh fruit
6. Plastic products for households and persons
7. cracker and biscuit

The list of the stilled banned imported products from Thailand due to the status as luxury products
1. Chewing gum
2. Cake
3. Wafer
4. Chocolate
5. Alcoholic drinks - Booze
6. Beer
7. Cigarettes
8. All of those controlled imported products

Trade volume with Thailand and Burma will be boosted up to with the target in 2015 at 300% of the level in 2009.

The trade volume in the first 10 months of 2012 has reached 170,343.80 Million Baht - up from the same period in 2011 by 11.49% and Thailand is still be the No. 1 trader with Burma - Thai exports to Burma is at 78,812.3 Million Baht while Thailand has imported products from Burma at 91,531.5 Million Baht

Thai exports to Burma are: refined oil, drinks, machines, cement, chemical products and steel
Thai imports from Burma are: Natural Gas, Logs, processed wood products, metal ores, scrapped metals, meat, and camera product with more than 80% of trades go through border.

http://www.posttoday.com/ธุรกิจ-ตลาด/193481/พม่าผ่อนปรนห้ามนำเข้าสินค้า15รายการ
 

·
Liberty, Equality, Frate
Joined
·
121,821 Posts
Discussion Starter · #78 ·
PM visits Myanmar, inspects progress at Dawei Special Economic Zone

DAWEI, Dec 17 -- Prime Minister Yingluck Shinawatra met Myanmar President Thein Sein and inspected progress in developing Dawei Special Economic Zone (Dawei SEZ).

Ms Yingluck led a strong delegation, including Deputy Prime Minister and Minister of Foreign Affairs Surapong Tovichakchaikul, Deputy Prime Minister and Finance Minister Kittiratt Na Ranong, Minister Attached to the Prime Minister’s Office Niwattumrong Boonsongpaisan, Minister of Transport Chadchart Sittipunt, Minister of Energy Pongsak Ruktapongpisal and Minister of Industry Prasert Boonchaisuk, to follow up on the latest progress at Dawei and its related projects in Myanmar.

Upon arrival at Dawei airport, Ms Yingluck met Mr Thein Sein and thanked him for personally leading her delegation of Thai government officials and potential private sector investors to visit the site where the Dawei industrial zone and seaport will be built.

The Thai premier stressed that her government has every intention and readiness to support Myanmar in developing the project. She said the visit would benefit the development of the Dawei SEZ and the Thai business representatives would have a better understanding of the project.

The Thailand-Myanmar Joint Coordinating Committee (JCC) Development in the Dawei SEZ, co-chaired by Thai Prime Minister's Office Minister Niwattumrong Boonsongpaisan and Myanmar Industry Minister Aye Myint still have issues to be finalised including the form finance for the project, and special laws on investment promotion within the zone.

It is expected that the JCC can conclude the details of outstanding issues by February and forward details to the Thailand-Myanmar Joint High-Level committee for the Comprehensive Development of the Dawei SEZ and its related project areas (JHC) to consider and sign a new version of the Framework Agreement and Sectoral Agreement by next March.

The JHC is co-chaired by Thai Deputy Prime Minister Kittiratt Na Ranong and Myanmar Vice President Nyan Tan. Thailand and Myanmar plan to start fundraising and ground breaking for the project by April.

Thai and Myamnar leaders believe that with full support from both countries, the project can achieve its objectives. Thailand and Myanmar accept the environmental issues as important to the project. Meanwhile, Mr Thein Sein said that Myanmar agreed to Thailand's proposal to upgrade the Dan Singkhon border pass in Prachuap Khiri Khan as a permanent border crossing point.

Ms Yingluck said the Thai government would consider financial support for a road extension project from Myawaddy-Kawkareik to Mawlamyine to form the completed network as proposed by Myanmar. Thailand will also consider redevelopment of the former railway at Three Pagodas Pass.

As for the nationality verification for migrant workers from Myanmar, Lao and Cambodia that reached its deadline on Friday, Ms Yingluck told the Myanmar president that the government has extended the deadline for another three months to facilitate the process as many migrant workers have yet to complete the required formality. (MCOT online news)

http://www.mcot.net/site/content?id=50ceaba4150ba06b59000267
 

·
Registered
Joined
·
26,685 Posts
Now, Burma going to upgrade Singkhon - Mudong Checkpoint into a permanent checkpoint in early 2013 to boost up the trade from 200 Million Baht a year to 3,000 Million Baht a month or 36,000 million Baht a year
Governor of Prachuab Khirirkhan pointing out President Tengseng agrees to upgrade Mudong checkpoint on Mergui province, Tennissarim region into a permanent checkpoint as a policy to shift the commercial and transportation center of Mergui from Kaw Thuang to Meregui which compel Thailand to upgrade Singkhon Checkpoint at km 332 Ban Nong Hin, Klong Wan Commune, Mueang District of Prachuab Khirikhan into a permanent checkpoint ...

Mergui Chamber of Commerce agree to repair and upgrade the road from Mudong Checkpoint to Tennissarim (100 km) and Tennissarim to Mergui to allow the traffic from Mergui to Mudong in 3-4 hours ... and further upgrading to asphalt road will allow the traffic between Mergui and Mudong within 2 hours - the real logistic improvement since Prachab Khirikhan already has deep sea port at Bang Saphan. It also improve the tourism between Thailand and Burma ... to allow Thai tourists to come to see Mergui Archipelago along with the big boost to Thai fishery and cold storage business. Furthermore, Burmese government are going to invite Thai investors to construct the new hotels in Mergui and Tennissarim to deal with the increasing tourists.

At the time being, the fishery products from Mergui must be transport to Kaw Thaung and and then go through Ranong which take 17-18 hours or so to be carried to Mahachai by truck which take another 10 hour - causing the total period of transport from Mergui to Mahachai is around 27-28 hours ...the opening of Singkhon - Mudong checkpoint as a permanent checkpoint will reduce the transportation time within 7 hours - big time saving indeed.

The upgrading of checkpoint has been a godsent since Thailand want to see the permanent checkpoint at Singkhon since 2010 .... Now, Myanmar is going to construct the Border trading office at Mudong with custom office and immigration office inside - to be opened in Jan 2013 while Foreign Affair and Mahatthai are going to inspect on Thai side on 7 Jan 2013 ... If all are ready, the permanent checkpoint will become a reality - though Mahatthai Announcement

Ranong chamber of commerce pointing out that the new permanent checkpoint at SIngkhon - Mudong will cause the reduction of trades through Ranong -Kaw Thuang checkpoint but it will take another 3-5 years to see the result when the road upgrading from Mudong to Mergui are done. nevertheless, Ranong is the fishery center as usual due the fact that fishery business in Ranong are Joint venture. Now, the major upgrading of kaw Thuang province as the Southern Tourist Gateway of Burma will stimulate the development of Ranong as the gateway for Thai tourists to go to Southern part of Burma in the Future.

http://www.thanonline.com/index.php...14-32&catid=85:2009-02-08-11-22-45&Itemid=417
 

·
Registered
Joined
·
26,685 Posts
Com7 International Co.Ltd. (Thai IT company selling PC, Smart Phones, and Tablets - the owner of Banana IT Franchise and iStudio/iBeat/uStore by comseven and banana Stuff) going to open the branch offices in Laos and Burma in 2013 - after they get the revenue form the domestic market at 14 billion Baht - Setting Training Center to train the local workers with a hope to get the first year revenue in Laos at 30 Million Baht and revenue in Burma at 50 Million Baht.

Banana IT in Laos will be just a standalone shop since Lao people has purchase power yet too few customer while Banana IT in Burma will be a shopping mall due to the sheer number of potential customer even though the average income is less than Lao people.

http://manager.co.th/CBiZReview/ViewNews.aspx?NewsID=9550000156632
 
61 - 80 of 90 Posts
Top