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Taiwanese businessmen in Thailand exploring opportunities in Myanmar

2012/04/28 21:54:32

Yangon, April 28 (CNA) Taiwanese businessmen based in Thailand are on a visit to Yangon to learn about potential investment opportunities in Myanmar.

The 20-plus members of the delegation represent many business sectors, including timber, machinery, retail, jewelry, stationery, food, textile and banking, said its leader Norman Chang, presidentof the Thai-Taiwan Business Association.

Taiwanese businessmen have been taking a keen interest in Myanmar since it has been opening up to investment, although the country has little experience in this regard, Chang said.

The Myanmar government recently drafted a foreign investment law that is expected to be passed in its parliament in about two months time.

Chang said Myanmar's large pool of cheap labor is the biggest incentive for Taiwanese businessmen, particularly as Thailand is facing labor shortages and wages there are rising.

However, it would not be wise to rush into investment in Myanmar in light of problems there such as rising land costs and difficulties obtaining local financing, Chang said.

Furthermore, although Myanmar shifted recently from military to civilian rule, the level of political uncertainty is still high, Chang said.

He advised that Taiwanese businessmen "wait until related laws have been passed” before making any investment decisions.

(By Namita Lin and Lilian Wu)