Mar 3, 2012

Taiwan businesses urged to focus on Myanmar market

The future of the world economy will be in Asia, with Myanmar being a potential market for Taiwanese businesses, said Thai-Taiwan Business Association President Norman Chang Thursday in Bangkok, Thailand.

With the faltering economy in the United States and the ongoing European debt crisis, Taiwanese businesses should focus mainly on Asia, Chang told participants at the 19th Asia Taiwanese Chambers of Commerce (ATCC) meeting, where around 300 representatives of Taiwanese business groups from 13 Asian countries or regions attended.

He also stressed the importance of the Burmese market to Taiwanese businesses based in Thailand, citing benefits such as close proximity, easier land acquisition and a less pronounced language barrier.

Rising salary costs in Thailand and cheaper land rates in Myanmar also contributed to the rising interest in the Burmese market, he said.

As Myanmar is gradually opening up its market, the timing is right for Taiwanese businesses to invest there, he stressed.

Straits Exchange Foundation Chairman Chiang Pin-kung, who was present at the meeting, also stressed the importance of Southeast Asian markets, saying they were crucial for further advancement of Taiwanese businesses.

The ATCC was established in July 1993, with the aim of exchanging business information among Taiwanese businesspeople in Asia, according to its website. 

Source: Focus Taiwan