BBL urges mid-sized Myanmar outlays

• Published: 16/10/2012 at 01:52 AM  

Bangkok Bank is encouraging Thai medium-sized companies to expand to Myanmar to benefit from growing business opportunities during the country's economic transition.

Kosit Panpiemras, the executive chairman of Bangkok Bank, said Myanmar was now in the spotlight of investors around the world as it transitions from a rural economy to an industrial one.

As a result, Thailand and local business operators are likely to have more of an advantage than other investors in leveraging its recent similar experience.

Myanmar needs infrastructure development and food and agricultural assistance, he said.
"Large local firms are already invested in natural resource extraction," added Mr Kosit.

BBL also plans to increase its bank partnerships in Myanmar from four, in line with higher investing demand from Thai customers.

Advice is more important than funding for local companies expanding in the neighbouring country.

BBL, Thailand's largest bank in term of total assets, signed an agreement with four private banks in Myanmar in August this year: Co-operative Bank Ltd, Kanbawza Bank Ltd, Ayeyarwaddy Bank Ltd and Asia Green Development Bank Ltd.

Transactional banking will mainly support Thai customers.

http://www.bangkokpost.com/business/financialadvice/317186/