Thai investors sniff out opportunities
A 40-member Thai business delegation led by Thailand's Board of Investment (BOI) arrived in Ho Chi Minh City on Aug. 17 to scout for investment and business opportunities.
Meeting the visitors the Thai consul general in HCM City, Pravit Chaimongkol, said: "This country offers good opportunities and good government that concentrates on how to help investors."
He said it was the third business delegation from home he had received during the week, and that the visiting executives were interested in all sectors in Viet Nam.
The delegation representing 29 Thai companies and has been brought to Viet Nam by Bangkok Bank Public Co Ltd.
Senior executive vice president of Bangkok Bank, Chansak Fuangfu, said the trip, which also took them to Ha Noi and Da Nang, aimed to help the bank's customers understand Viet Nam's environment and culture before starting their business in the country.
Fuangfu said more and more Thai businesspeople were coming to Viet Nam simply because the country was offering them greater opportunities.
Chokedee Kaewsang, director of BOI's Investment Strategy and Policy Division, said Viet Nam's political stability was the key attraction for Thai attraction for Thai investors. He said the good and cheap labour was another.
"We've looked at Viet Nam as a partner, not competitor," he added.
The chairman of the Thai Business Association in Viet Nam, Chumpon Piyanonpong, said it was the liberal and attractive investment environment that caught Thai investors' attention. He said at least 10 percent of the visitors would come back to Viet Nam to start their business, compared with 3 to 5 percent in 1993-1995.
In HCM City, the Thai delegation also visited Phu Mu Hung Corp in Sai Gon South, the Binh Duong Industrial Park, and attended the ongoing Thailand Exhibition in the city.
Nguyen Quoc Dung, head of the Business Promotion Department at the planning and investment ministry's Southern Foreign Investment Centre, said Vietnamese authorities had so far licensed 153 Thai-invested projects with total investments of 1.54 billion USD.
Thailand ranks 12th in the list of foreign investors in Viet Nam.
The projects cover a range of sectors like transport services, telecom networks, animal feed, seafood processing, and manufacture of furniture, plastic products, and motorbike parts.
The visitors wrap up their five-day trip on Aug. 19. -(VNA)