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Strong Thai Baht Could Impact Imports, Currency

The Thai baht has reached a six-year high against the US dollar and is now at around 30.2 per dollar. Of the four countries that share borders with Myanmar, Thailand is the second largest trading partner, with trade volumes during fiscal 2018-19 amounting to US$3.8 billion, according to government data. Just this month, the Central […]

Exim Thailand ramps up support for Myanmar venturesCorporate

The Export-Import Bank of Thailand (Exim Thailand) is gearing up to provide more loans for Thai companies venturing into Myanmar on expectations of a long-awaited economic boom. The bank would provide more loans to Thai and Myanmar businesses that are considering using a wide range of Thai products in their commercial operations in Myanmar, said […]

Thai investors buoyed by CLMV investment climate

Following the strong economic growth in Asean, especially in CLMV countries (Cambodia, Laos, Vietnam, and Myanmar), Thai investors have expanded their regional investment by focusing on alternative energy, food and agriculture processing, tourism, and service business. According to a report by the Bank of Thailand, as of September 30, 2017 Thai investors showed outstanding direct […]

Central Bank of Myanmar approves loans without collateral

Local banks are now permitted to extend loans without the need for collaterals, U Set Aung, Deputy Minister at the Ministry of Planning and Finance, told The Myanmar Times at the 5th Asia SME Conference in Naypyitaw on October 14. “The Central Bank of Myanmar (CBM) has allowed local banks to provide loans without movable […]

TrueMoney goes international, targeting Myanmar

Executives join to launch the oversea transfer service. (Photo courtesy of TrueMoney) Local mobile payment companies are gearing up to extend their payment services overseas after the Bank of Thailand eased foreign exchange rules. The central bank in March eased the regulations to allow companies that hold payment licences under the law regulating e-payment to […]

Myanmar’s Kanbawza Bank opens office in Bangkok

KBZ representative office has been opened at Sathorn Square Office Tower. (Photo courtesy of Kanbawza Bank) Kanbawza Bank (KBZ Bank) has opened a representative office in Bangkok, the first Myanmar bank to establish an international presence. Earlier this year, KBZ Bank officially received a licence from the Bank of Thailand to open the office in […]

Thailand Turns to Mekong Neighbors, Myanmar to Diversify Exports

Thai policy makers searching for ways to reverse a slump in exports may have found a solution close to home — a $170 billion market just over the border that’s growing by more than 6 percent a year. As shipments to China, Europe and the U.S. slow, Thailand’s government is crafting a strategy to deepen […]

KBZ plans Singapore, Thailand representative offices

KBZ, the largest domestic private bank, plans to open representative offices in Thailand and Singapore by October, according to KBZ senior managing director U Than Cho. The bank is holding discussions with authorities and working on submitting the necessary documents, he said. “We are urgently trying to open them. It looks like [the Singapore office] […]

Thai construction companies look to Myanmar for growth

Bangkok’s Democracy Monument was erected to commemorate the 1932 coup that ended Thailand’s seven-century reign of kings, and became a rallying point last year for protesters seeking to oust the government. Now, the landmark’s builder is going abroad for the first time in its 84-year history as political instability saps demand at home. “Because of […]

Visa focus on Myanmar as Thailand slow down

Visa International (Thailand) estimates single-digit percentage growth in spending through its cards here this year compared with double-digit growth over the past few years, said Somboon Krobteeranon, country manager for Thailand and Myanmar. Visa card spending in other Asean countries in 2014 is expected to expand at a double-digit pace, he said. Southeast Asia’s second-largest […]