Thai companies encouraged to invest in Vietnam’s central coastal region

Friday, 2017-10-06 10:20:59
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Vietnamese Ambassador to Thailand Nguyen Hai Bang speaks at the workshop.
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NDO – The investment potential and opportunities available in the central coastal region of Vietnam were introduced to Thai investors at a workshop held by the Vietnamese Embassy and the Board of Investment of Thailand (BOI) in Bangkok, on October 6.

The event drew huge attention from the Thai business community, including the Thailand-Vietnam Business Council (TVBC) and the Federation of Thai Industries (FTI), research centres, and nearly 200 native businesses.

In his opening remarks, Vietnamese Ambassador to Thailand Nguyen Hai Bang stressed that the fine political and diplomatic relations between the two States and Governments plays a crucial role in creating a trustworthy environment and a favourable legal corridor for business cooperation between Vietnamese and Thai enterprises.

Partnerships in trade and investments have also contributed to deepening the strategic partnership between the two countries, Bang said, adding that Thailand is currently one of the 10 largest foreign investor in Vietnam, with nearly 500 projects worth over US$8.4 billion, mostly in the southern and northern regions of the country.

The central region of Vietnam is currently benefiting from many preferential policies, issued by both the Government and central localities, in foreign investment attraction, with advantages in the transportation and logistical infrastructure connection with the economic corridor to the east of Thailand, therefore Thai firms are prioritised to invest in the region in the time ahead, he stated.

Chokdee Keawsang, Deputy Secretary-General of the BOI, highlighted the huge potential for cooperation between Vietnam and Thailand, as the two are geographically close countries, hailing Vietnam as a large market that has attracted increasing interest from Thai companies over recent times.

The central region of Vietnam is a strategic location with numerous investment opportunities, he said, encouraging Thai enterprises to seize these opportunities and overcome any difficulties in order to compete against enterprises from other countries.

Keawsang also revealed BOI’s intention of opening a representative office in Hanoi early next year, in order to support Thai firms that wish to invest in the Vietnamese market.

At the workshop, Trinh Minh Van, Director of the Investment Promotion Centre for Central Vietnam, provided an overview of the investment activities conducted by foreign firms in Vietnam, including those from Thailand, in addition to introducing the potential and advantages of the investment environment in Vietnam as a whole, and in the country’s central region in particular.

Cities, provinces and businesses in Central Vietnam will hold direct dialogues to introduce the key investment projects with international organisations, as well as with its Thai partners and any investors who are interested, he noted.

An exhibition featuring the sea-based economy potential and investment opportunities in Vietnam’s central coastal region, as well as the investment operations of Thai firms in Vietnam, was also held on the sidelines of the workshop, attracting attention from native officials and companies.

Since the establishment of their bilateral diplomatic ties in 1976, Vietnam and Thailand have achieved positive outcomes in bilateral economics, trade and investment cooperation. During his visit made to Thailand in August 2017, Prime Minister Nguyen Xuan Phuc and the Thai leaders agreed that the relations between the two countries have entered the best development period so far. Currently, Thai businesses are investing mainly in the manufacturing industry (212 projects, US$7.14 billion), infrastructure (seven projects, US$397 million) and agriculture (30 projects, US$277 million), mostly in the southern and northern regions of Vietnam.

The workshop gathers nearly 200 Thai businesses.