The Determinants of Thai Listed Firms’ Foreign Direct Investment in Myanmar

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Chenin Chen


After the recent wave of political, social, and economic reforms in 2015,  Myanmar’s once isolated economy has opened to the rest of the world.  The country presents itself as an attractive destination for investment as it has abundant natural and human resources, its strategic location, and favorable investment policies.

Thailand is one of Myanmar’s biggest trading partners and has been investing in Myanmar before 2015 economic reform and remains to be a top investor in the country. This study aimed to 1) explore which factors have positive and significant influence on Thai listed firms’ decision to invest in Myanmar, 2) investigate the likelihood of investment of Thai listed firms in Myanmar, and 3) provide recommendations for Myanmar authorities and policy makers to improve Myanmar’s investment climate to attract more Foreign Direct Investment (FDI) in the future. 

            From the analysis results, the researcher concluded that location factors, market factors, social factors, and financial factors had positive and significant relations with Thai firms’ FDI in Myanmar and that location and financial factors were predictors of listed firm’s FDI in Myanmar.  In addition, internal factors such as FDI motivations played an important role in influencing Thai listed firm's decision to invest in Myanmar.



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