Myanmar Burma is new haven for Thai joint venture investment

Myanmar is now becoming a new investment haven for Thai businessmen with growing interest for joint ventures with Myanmar private sector.
Kasikorn bank’s managing director, Theetanant Srihong stated that most of the Thai business operators are looking to form joint ventures with the country’s private sector to bypass Myanmar legal complications and issues of high public utility cost.

 

He said 20-30% of investors scouting opportunities in Myanmar ended up entering into such joint ventures.

But he said the number of investments by Thai businesses is still behind that of Singapore, but the pace has visibly quickened.

The first group of investors penetrating Myanmar markets are the large and medium enterprises from the trading sector, and those business operators who are aligned with Japanese entrepreneurs.

He said that the latter followed their Japanese partners when they expanded their investment base into the nation.

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THAILAND : The Council of University Presidents of Thailand ,Rectors, Medical network and Private sector urge PM Yingluck to quit

The private sector today called on caretaker Prime Minister Yingluck Shinawatra to resign saying any insistence to cling to power could turn the country to anarchy.

Federation of Thai Industries (FTI) vice president Sommart Kunset cited the bomb attack in Trat province on Saturday which he said was so violent and said this incident merely showed that there was an armed resistance group which does not accept the state power and that her caretaker government could not do anything to deal with the situation.

He said there was only one choice for her to take and that was for her and all her caretaker cabinet minister to resign en masse.

He said if she refused to step down and insisted to cling on to power, then the country could plunge into anarchy.

He also called on the caretaker prime minister to lift the state of emergency as soon as possible saying it had inflicted damage to economy.

He said Thailand’s trading partners have voiced concern about the state of emergency and amid the violent incidents which happened almost daily, they were not confident if Thai manufacturers could be able to constantly supply if they should place orders for Thai goods.

Thailand had political instabilities over the past decade but economy could still grow, except during the past two years when economy was messed up with politics.

He cited the rice pledging scheme, the 300 baht minimum wage which had proved to be wrong and failed policies and has dealt a heavy blow to the private sector.

This had undermined the strength of the private sector to continue driving the country’s economy to grow.

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The Council of University Presidents of Thailand (CUPT) has condemned political violence while calling on Prime Minister Yingluck Shinawatra to resign.The CUPT on Monday issued its 6th announcement, saying that periodic violent incidents since anti-government protests started in Bangkok late last year had claimed 20 lives and wounded 718 others, including children. The council also cited an official economic report which suggested that the Thai economy was continuously slowing down, resulting in contraction in the fourth quarter economy as well as public and private investment.The CUTP conveyed condolences to cousins of the victims and expressed concerns over the country’s deteriorating economic situation. The council called on all sides to exercise restraint in order to prevent violence from happening again in the future and urged the government to show responsibility for recent attacks by stepping down.

The council stressed that it adhered to constitutional monarchy and peaceful means. It would take part academically and provide evidence-based information to reform the country. The CUTP concluded the announcement by calling on all sides to enter a talks process for solutions to the political crisis.

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A network of medical practitioners and public health service providers today issued a joint statement condemning the escalating political violence and demanding the resignation of the government.

The joint statement was in response to the violence during the weekends when four people, including three children, were killed and over 50 injured, in two gun and bomb attacks in Trat province and at Ratchaprasong.

The network is made up of deans of medical science faculties from nine universities, deans of pharmacy faculties from 13 universities, deans of nursing faculties from two universities and presidents of seven professional associations.

Public health permanent secretary Dr Narong Sahamethapat said that a total of 19 people have so far been killed and over 700 injured in the course of protests since last November and there is a tendency that violence is escalating.

Dr Prasit Wattananapa, vice dean of medical science faculty of Siriraj hospital, urged medical practitioners to defy the government and to do what is right.

Besides the joint statement, the network plans to launch a nationwide event on February 26. Details of the event are not disclosed.