August 10, 2024

Amid the escalating conflict in Myanmar, numerous businesses from the country are relocating to Thailand, according to a report by Nikkei Asia. The deteriorating situation in Myanmar has made it increasingly difficult for businesses to operate, leading many to seek stability and opportunities in neighboring Thailand.

In recent months, a significant number of Myanmar businesses have moved operations to Thailand, joining the large population of Myanmar nationals already residing there as migrant workers and refugees. The decision to relocate is driven by various factors, including economic instability, unpredictable military actions, and unfavorable policies under the current junta.

“The situation in Myanmar has become impossible for business. Economic instability, erratic military actions, and ongoing conflict have made it unsustainable. We decided that Thailand is the best place to continue our operations,” a Myanmar business owner who recently relocated to Thailand told New Day Myanmar.

Thailand, being the second-largest economy in Southeast Asia, has become a haven for many Myanmar businesses. The country’s proximity to Myanmar and its economic stability make it an attractive destination for businesses seeking to escape the turmoil at home. Thailand is also home to a significant number of Myanmar nationals, with an estimated 5 million residing in the country, both legally and illegally.

Photo – koleovlog (A Myanmar restaurant in Bangkok, Thailand)