The Automotive Focus Group (AFG) invited Dennis Meseroll, the Executive Director of Tractus Thailand, to address the AFG members on Foreign Direct Investment (FDI) regarding Myanmar.
He had some very interesting statistics to share with AFG, including the fact that Myanmar’s GDP of USD 103 billion was only 20 percent of Wal-Mart, in the US.
Dennis Meseroll, Executive Director of Tractus Thailand.
Factors in favor of Myanmar investment included the repealing of sanctions by most countries, an ample workforce and low wages, with Myanmar around USD 50-60 compared to Thailand’s USD 272.
Factors against FDI included it being difficult to lease land and a shortage of industrial estates of better quality. The Asian Development Bank rates Myanmar’s ease of doing business as “poor”.
Dennis mentioned the political uncertainty in Myanmar and changing laws on importing items. “Now is the time to look, but definitely keep your eyes open, and there are currently lots of challenges.”
Following the address, the AFG continued with a networking event in the Nova Platinum with everyone agreeing that the catering by the Nova Platinum was excellent, and their GM David Roberts was overseeing everything to ensure the standards remained high.
