The Ministry of Commerce and the Thai-Myanmar Business Council are promoting Myanmar as a promising market for investments post-COVID-19, citing the improved laws and investment promotion schemes attracting foreign investors.
Thai-Myanmar Business Council and the Ministry of Commerce yesterday held a seminar on the directions and trends of Myanmar markets after COVID-19, which is intended to help in pointing out business opportunities for Thai companies.
Deputy Minister of Commerce, Weerasak Wangsupakitkosol said on this occasion, that Myanmar as a developing market presents some great investment opportunities for Thai businesses, with major companies such as PTT, SCG, CP, and Mitrpol having already invested in the country.
One of the advantages in investing in Myanmar is the chance for foreign companies to entirely own wholesaling or retailing businesses, which provides great opportunities for SMEs.
Businesses are encouraged to adopt new operational guidelines post-COVID-19, such as reducing physical contacts with customers, using automated systems or online platforms to sell products, and to make hygiene a priority.
The deputy Commerce Minister said today that Thailand should take advantage of its robust public health system to promote the export of high-demand items, such as medical equipment and medicine, in addition to consumable items and construction supplies which are currently the main export items destined for Myanmar.
Myanmar is now the 7th biggest ASEAN partner trading with Thailand. The two countries aim to increase their trade value with each other to 12 billion U.S. dollar by the year 2022. (NNT)