While labour wages are rising in Thailand, some of its enterprises are discussing moving their businesses to Myanmar, according to U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA), state media reported.
“At present, Thailand investors are entering Myanmar as cheap labour wages are attracting them,” he said. “As labour wages in Thailand have risen, the kingdom’s business firms are considering moving their businesses to Myanmar,” U Thant Sin Lwin, was quoted as saying.
The businesses are engaged in manufacturing LEDs, auto parts and accessories, among other things.
Last October, Thailand-based Amata Group’s Yangon Amata Smart and Eco City Ltd was awarded the contract to develop and operate a smart and eco city on 2,000 acres of land near Laydaunkkan, near East and South Dagon townships, with investments of US$274.680 million, according to DICA.