FTI demands Myanmar’s economic policy revision


Bangkok, July 23 2012  – The Federation of Thai Industries (FTI) is requesting Myanmar to adjust its economic policy to support foreign investment as well as to develop its utility systems and Dawei Deep Sea Port.

FTI Secretary General Sommart Khunseth has said he believes the visit of Myanmar President Thein Sein will open up investment opportunities for the government and private sectors of both nations, especially in the field of labor in the food, textile, shoes, and electronic parts industries. The Thai private sectors have confirmed that they are looking forward to investing in Myanmar, but that Myanmar should revise its regulations and policies to support foreign investment. They also asked Myanmar to develop industrial estates as wll as enhance its labor skills. In addition, the Thai private sectors are also concerned about Myanmar’s utility systems as well as the progress of Dawei Deep Sea Port.

Mr. Sommart added that the Thai private sectors have to adjust themselves as well given the ASEAN community is coming, which could cause a shift of investment from Thailand to the neighboring countries such as Cambodia, Laos, and Myanmar. As a result, Thailand will have to immediately improve and focus more on its technology and creativity to replace heavy industry.