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Vietnam’s central coast calls on Thai investment PDF Print
Wednesday, 11 October 2017 15:57

VIETRADE – Thai enterprises are encouraged to invest in Vietnam’s central coastal region which has great untapped potential as well as offers lucrative investment opportunities.

 

About 200 Vietnamese and Thai companies attended a workshop introducing potential and investment opportunities in Vietnam’s central coast to Thai investors in Bangkok late last week, demonstrating their interest in investment in Vietnam.

 

The event, co-organized by the Vietnam Embassy to Thailand and the Board of Investment of Thailand (BIT), provided practical and useful information and updates in the region for Thai enterprises while promoting trade and investment activities between the two sides in the future.

 

Thailand is now among the top 10 biggest foreign investors in Vietnam, pouring total registered capital of more than US$8.4 billion in around 500 projects. However, Thai investment mainly focused in Vietnam’s northern and southern regions.

 

Vietnamese Ambassador Nguyen Hai Bang said that central coastal region is enjoying preferential policies for foreign investments from the Government and local authorities.

 

In addition, the region has advantages of good transportation and logistic infrastructure which would make it easy to connect between the region and Thailand’s Eastern Economic Corridor.

 

“Vietnam hopes Thai businesses to look to this region as a priority in investment destinations,” Vietnamese Ambassador said and affirmed Vietnam is committed to taking drastic measures to create fair, transparent and favorable investment environment for Thai investors for stable and long term investment in the country, Bang said.

 

According to Chokdee Keawsang, Deputy General Secretary of the Board of Investment of Thailand (BOI), Vietnam and Thailand are close neighbors with great cooperation potential.

 

He said Vietnam is also a large market which has increasingly attracted Thai businesses in recent years. Meanwhile, the country’s central coast has many untapped investment opportunities and he encouraged Thai businesses to seize opportunities to increase presence in this region.

 

“Vietnam’s economy is growing fast and Thai businesses highly appreciate Vietnam’s potential, particularly the central coastal region which is considered a strategic location for setting up the production base to sell goods for both domestic and export markets,” Keawsang said.

 

He added BOI will open an office in Hanoi early next year to support Thai enterprises to invest in Vietnam.

 

At the event, participants also presented the region’s investment trends with implications for Thailand and Vietnam’s economic development.

 

The delegation of Quang Tri Province also introduced the provincial geographic advantages and development potential in the economic sphere of Vietnam’s central coast.

 

On the sidelines of the workshop, the organizers set up a photo exhibition on marine economic potential and investment opportunities in Vietnam’s central coast as well as Thai investment activities in Vietnam.

 

Thai investment in Vietnam is concentrated in processing and manufacturing (212 projects with total value of US$7.14 billion), infrastructure (seven projects worth US$397 million) and agriculture (30 projects worth US$277 million).

 

Economic, investment and trade cooperation between Vietnam and Thailand has progressed greatly since the two countries established diplomatic relation in 1976.

 

In the visit of Prime Minister Nguyen Xuan Phuc to Thailand in August this year, leaders of the two states agreed that their bilateral relationship ‘is ripe and enters the best stage”.

 

The two countries have set a target of achieving the two-way trade value of US$20 billion by 2020.

 
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