Thai businesses in Myanmar worried about survival after coup

BANGKOK — Thai investors are worried that sanctions and boycott of Myanmar after the military-led coup on Monday will affect their business in the country, the Thai-Myanmar Business Council said.

The council has, so far, said it is not able to shed light on exactly what effect the coup will have on Thai businesses in Myanmar, as the government has yet to issue a statement on foreign investment and businesses.

However, it said Thai operators should not be affected directly if Myanmar is boycotted, as their businesses mainly target domestic consumers. Investors though stand to lose money due to the expected slowdown in Myanmar’s economy, it said.

It also said that now that the government led by National League for Democracy has been ousted, it is not sure if the new government will honor the contracts Thai investors had signed with the previous administration.

The council, however, believes bilateral trade will only be slightly affected.