Thailand
Thai firms in Myanmar seek help
The Commerce Ministry is planning to help Thai businesses in Myanmar as the prolonged political conflict is affecting their liquidity, productivity and goods transport.
Permanent commerce secretary Boonyarit Kalayanamit, who discussed their problems during a meeting with businesses and Thai-Myanmar border traders on Friday, promised he will suggest Commerce Minister Jurin Laksanawisit push ahead with relief measures including tax reduction and a new soft loan scheme.
“Thai businessmen, mostly small and medium-sized enterprises in Myanmar, are bearing the impact,” said Mr Boonyarit.
Many of them are facing a labour shortage because of the confrontation between the military regime and demonstrators.
Goods transport is disrupted and some entrepreneurs are facing liquidity problems.
If the political conflict escalates, becoming more violent and leading to further international sanctions on Myanmar, Thai businesses will face more problems, he said.
Thai manufacturing plants will be unable to export products to countries that impose the sanctions and companies, especially those in the energy sector, that rely on the technology of these countries will certainly be affected, said Mr Boonyarit.
Participants at the meeting asked the government to consider reducing corporate income tax as Thai law requires businesses to pay tax for profit generated overseas.
Businesses also want officials to consider granting low-interest loans for their investment in Myanmar.
“Mr Jurin will be informed of these issues to consider taking further action,” said Mr Boonyarit.
Thai-Myanmar border trade in Tak’s Mae Sot district continues as usual with 700-800 goods transport trucks going between the two countries each day.
Source: https://www.bangkokpost.com/business/2091179/thai-firms-in-myanmar-seek-help