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  1. #1
    Mid
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    Thai Firms Urged to Seek Business in Neighboring Countries

    Thai Firms Urged to Seek Business in Neighboring Countries
    WILLIAM BOOT
    Saturday, May 15, 2010

    Thai companies should pursue all business opportunities in neighboring countries, including Burma, to avoid being left behind in a regional economic growth race, a senior Thai banking executive has advised.

    Business expansion into Burma, Laos and Cambodia is essential for Thailand’s private sector to “defend itself” against foreign competition, said the chief of Siam Commercial Bank’s economic intelligence unit, Sethaput Suthiwart-Narueput, in a situation report.

    The warning comes as non-Thai businesses increase their grip on natural resources in Thailand’s neighbors.

    A British-Vietnamese consortium has just struck gas in Laos, a Japanese consortium has won exploration rights to search for oil in Cambodia, and China’s grip on Burma’s gas reserves has tightened recently.

    “Generally, political risk in these countries seems to be lower than in Thailand,” said Sethaput, referring to the ongoing crisis on Thailand involving anti-government mass protests.

    Burma could be particularly attractive for agricultural and mobile phone business, he said.

    Ratchaburi Electricity is investing tens of millions of dollars in hydroelectric projects and a coal-burning electricity plant in Laos, while Thai plans to develop hydro dams in eastern Burma have stalled.

    irrawaddy.org

  2. #2
    Thailand Expat zygote1's Avatar
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    Thai companies should pursue all business opportunities in neighboring countries, including Burma, to avoid being left behind in a regional economic growth race
    -chief of Siam Commercial Bank’s economic intelligence unit, Sethaput Suthiwart-Narueput

    So much for corporate social responsibility or business ethics. This banker must be really focused on making his profits to be so clued out to international banking guidelines or positions. Does this boob realize that he has now opened SCB to international boycotts and restricted dealings? The EU, NZ, AUS, CDN & USA all have specific government and private sector voluntary sanctions in place in respect to Myanmar. What does the SCB see as business opportunities? Laundering money from illegal timber and wildlife trade? Or maybe Sethaput has his heart set on handling the drug syndicate money from the flow of contraband into Thailand? So much for intelligence. He really should take a lesson from the Swiss banks that have paid hundreds of millions of dollars of fines due to their quest for profits. They too started off as mere providers of banking and then it became something else. Siam Commercial Bank had better hope that the largest investment funds in the world which are top heavy with mostly western union and government pension plans don't hear about this or else they'll avoid anything remotely related conected to SCB. They have done it to oil companies that invested in Burma and they'll to do it to a crappy 3rd tier bank that faciltates sanction busting.

  3. #3
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    It's about Thailand not being able to share the resource wealth of the region with its neighbors before it is all taken by multinational corporate partnerships and sold back to Thailand at the highest prices. Thailand cannot afford to be isolationist anymore. Their population is growing every day and is being inflated with the influx of illegal foreign labor. Paddy land is being turned into housing and commercial development all across the country at an alarming rate. More people plus less arable land is a recipe for disaster.
    Eat more Cheezy Poofs!

  4. #4
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    I have been changing my views on burma recently,as has the rest of the world.
    The new visa on arrival must be good for tourism in burma and bad for thailand.
    When one reads how the national security apparatus keeps tabs on eveyone including tourists then more tourists is surely bad news for the regime.
    Imagine how difficult it will be to keep control if there is a huge influx of visitors all keen to talk to the locals?
    Read the book about finding george orwell at bangkok airport last week.The burmese call orwells books a trilogy because animal farm,burmese days and 1984 all ironically depict the orwellian control of the populace these days.
    I might have a look myself this year...

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