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Krungsri opens office in Yangon Krungsri (Bank of Ayudhya), a member of Mitsubishi UFJ Financial Group (MUFG), has opened a representative office in Yangon with the aim of supporting the bank's corporate and SME clients in capturing business opportuniti
The Bank of Tokyo-Mitsubishi UFJ (BTMU), a banking entity under MUFG, also officially commenced its full branch operations in Yangon yesterday.
Krungsri president and CEO Noriaki Goto said the opening of a representative office affirmed the commitment to support its clients to grow their businesses outside Thailand, particularly in neighbouring countries.
The representative office will provide in-depth information on trade and investment-related opportunities to both Thai and Myanmar business operators.
The newly established BTMU Yangon branch will support Krungsri’s clients in their financial service needs, such as lending, international money transfer, and currency exchange.
Krungsri’s representative office will also provide business-matching services between operators from the two countries.
Tesco Lotus to expand in Thailand
Tesco Lotus plans substantial investment in Thailand this year to strengthen its leadership of the modern retail sector.
The company will open more stores while growing its online channels, and invest the biggest budget ever to lower prices amidst challenging economic conditions.
“Thailand is a strategic market of Tesco Group. Growth opportunities in Thailand remain promising and we will continue to invest to grow our business,” said Tesco Lotus CEO John Christie.
“In 2015-16, we will continue to expand our store portfolio as well as develop our online shopping business. We plan to serve emerging upcountry towns by opening five large stores and will open 50 Express stores in response to new customer trend of shopping closer to home,” he added.
Boost for tourism revenue
The Tourism and Sports Ministry has revised upwards its revenue projection for the year from Bt2.2 trillion to Bt2.3 trillion, due to increased efforts to attract high-spending tourists and promoting events to boost the domestic market.
Permanent secretary Suwat Sithilor said initial projections of 25 million international tourists and 150 million domestic trips would remain unchanged.
The adjusted revenue projection is based on an increase of 25 per cent in foreign tourists and growth in the domestic market during the first quarter, plus the prospects of a bright future following the lifting of martial law last month.
The ministry will work with operators in a bid to persuade more Asean and other Asian tourists to visit Thailand during the low season, he said.
The ministry also aims to increase the number of high-spending tourists, and boost niche market segments, while offering more attractive packages specifically for Asian tourists.
