Thai investors are cautious about pouring money into Myanmar 5
Myanmar is calling for investment in a multi-billion dollar seaport project in the Dawei special economic zone, located right at the vital gateway.
Thai Prime Minister Yingluck Shinawatra and a series of the country’s leading businesses flew to Dawei, located on the Andaman coast of southern Myanmar, to hold talks with President Thein Sein and senior Myanmar officials on development cooperation.
In July, Thailand and Myanmar signed a memorandum of understanding to establish a special economic zone for Dawei, while Bangkok also agreed to support the area with infrastructure, security and road transport.
For example, the cooperation between the two countries is a giant project, led by Thailand’s leading industrial group Ital-Thai, that will bring great benefits to Myanmar after decades of control.
`Thai investors are worried and hesitant about political policies as well as mobilizing funding to pour money into the Myanmar market,` Marketing Director Pravee Komolkanchana of Ital-Thai told
A monk looks at a seaport project in the Dawei special economic zone, Myanmar.
Potential investors are still exploring the Myanmar market, an unnamed businessman in Yangon, Myanmar shared.
The construction of new houses for thousands of resettled people is still stagnant, with no progress.
For example, in another case, the Myanmar opposition received sympathy when last year President Thein Sein decided to stop the construction of a $3.6 billion hydroelectric project in northern Kachin state with the support
However, local people now have a less harsh attitude towards projects in Dawei port although some residents still appear reluctant to relocate, even though they are being offered new houses.
Mai Phuong
