Thai giants to ink Myanmar pact

Four massive Thai conglomerates — B.Grimm Group, Amata Corporation, PTT and Global Power Synergy — have entered into an agreement to develop an 800-square-kilometre industrial estate in Myanmar. A memorandum of understanding is expected to be signed by the beginning of next year, said B.Grimm chairman Harald Link.Mr Link said B.Grimm’s role in the partnership […]

Myanmar allows Korean and Thai banks’ entry to boost investment

Competition in Myanmar’s banking sector is expected to intensify as more foreign banks enter the country. (Photo by Yuichi Nitta) YANGON — Seven banks from around Asia are to enter Myanmar, raising the prospect that a more active presence by foreign lenders will encourage further inward investment from other industries. The banks’ entry was approved […]

Thai Border Closures Over COVID-19 Spark Myanmar Migrants Return, Health Concerns

Myanmar’s health minister announced on Sunday that any migrant workers returning home from foreign countries must remain under home quarantine for 14 days as “their numbers are too large for quarantine centers to handle.” The announcement came after at least 10,000 Myanmar workers rushed home over the weekend, shortly before Thailand closed its border checkpoints […]

Myanmar Authorities Close Thai Border, Thousands Unable to Work at Textile Factories

Thousands of Myanmar textile workers on the Thai-Myanmar border in Three Pagodas Pass, Karen State have been unable to go to work at factories in Thailand due to a dispute between the countries’ border authorities. “For the workers, they do not have monthly salaries, so how can they survive?” asked U Tin Myo Oo, a […]

Yangon Water Bus to use Singapore, Thai ferries when service resumes

The Yangon Water Bus river transport service has ordered passenger ferries from Singapore and Thailand to replace its old vessels once it resumes operation, the company that runs the line said. Daw Tint Tint Lwin, chair of Tint Tint Myanmar Co., said it has also sought the help of a Singapore company in linking its […]

Thai banks spread QR code in Asean

Thailand is set to kick off cross-border payment via QR code technology in Asean by mid-year, aiming to enhance financial transactions through the digital platform across the region. Digital payments between Thailand and Singapore and Cambodia are expected to begin in the middle of the year, said Siritida Panomwon Na Ayudhya, assistant governor for payment […]

Thai developer invests $1bn to put Myanmar industry on global map

NAYPYITAW — Thai industrial estate developer Amata Corp. plans to build an industrial complex with an investment of $1 billion in Yangon, Myanmar’s biggest city. The complex will provide important industrial infrastructure in a nation with few global-standard industrial zones suitable for foreign companies. Amata recently signed a land lease agreement and joint venture agreement […]

Thailand firm to build new urban centre with construction ministry

The construction ministry inked a deal with a Thai firm to build a US$1 billion “smart city” in northeastern Yangon. The JV agreement – signed last Friday – would pave way to more than 30,000 new jobs and US$60 million in direct tax, the two sides said. The ministry’s Department of Urban and Housing Development […]

Thai Investors Eye Comprehensive Tourism Investment in Tanintharyi

Thai investors have shown interest in making comprehensive tourism investment in Kawthaung and Myeik archipelago, Tanintharyi Region, according to U Thant Sin Lwin, Deputy Director of the Directorate of Investment and Company Administration (DICA). “There are email inquiries asking how many islands and roads are in the archipelago,” said the official. “They also want to […]

Thai Electronics Firm Compensates Exploited Myanmar Workers in Rare Award

BANGKOK—Myanmar migrants who were illegally charged excessive recruitment fees to secure jobs at an electronics manufacturer in Thailand are being compensated in a rare award expected to spotlight a practice known to trap workers in modern slavery. Cal-Comp Electronics—which supplies tech giants such as HP Inc.—is reimbursing at least 10,000 workers, according to the Migrant […]