Burma and Thailand want to build a highway linking a to-be built port in Burma to a port in Thailand. This will enable cargo to by-pass the congested Malacca Straits.
Will this remain a dream like the Kra canal, then the Kra oil pipeline? I suspect not as there are benefits for Thailand and Burma.
Might even attract TLCs: there will be a need for industrial and logistic parks.
As for the Straits of Malacca as a shipping lane? Well the development of the US inter-continental port, highway rail system to move containers from the West Coast to the East, hasn’t affected the traffic using the Panama Canal. It is being enlarged to take bigger ships.