Thailand’s Deputy Minister of Commerce Apiradi Tantraporn visited Myanmar to discuss with her counterpart a closer economic cooperation to cash in on the establishment of two special economic zones in Thailand’s border town of Mae Sot and Myawaddy in Myanmar.
Apiradi met with Myanmar’s Commerce Ministry’s officials to discuss the future cooperation. The planned Mae Sot economic zone is strategically connected to special economic zone in Myawaddy and could be conveniently connected to the port of Mawlamyine and Yangon.
The Mae Sot economic zone, according to Apiradi, has an advantage thanks to the existing labour incentive investments such as textile, processed agricultural products and furniture. The location is also an ideal for logistic especially for cross-border trade.
“Some of the interesting businesses include processed food, beverages, snacks, machineries used in agriculture, construction material, auto spare parts and restaurants,” she cited.
Moreover, the Myanmar government has offered attractive privileges for investors including a five-year exemption of corporate income tax and a reduction of personal income tax from 15 to 10 per cent for workers in the companies under the investment promotional privileges.
During her two-day visit, Thailand’s deputy minister co-presided over the opening ceremony of Thailand Week 2015, the business matching event in Myanmar which is held until January 18. Some 170 Thai companies and 35 Myanmar importers participate in the fair that is expected to draw around 30,000 visitors.
Another business matching and trade fair between Thailand and Myanmar will be held in Mae Sot on January 28.
Source: The Nation