Central provinces call for Thai investments

Thai and overseas Vietnamese businesses in Thailand were encouraged to invest in the central provinces of Vietnam during a recent forum in Bangkok.

Photo: VNA

The event, the first of its kind to involve Vietnam’s central provinces, was co-organised by the Vietnam Trade Office in Thailand and the Thai Board of Investment.

During the forum, the central region of Quang Tri, Quang Ngai and Quang Nam introduced their strengths and areas of potential.

Ambassador Ngo Duc Thang said bilateral ties between Vietnam and Thailand have developed strongly in economics, trade and investment, especially after the two sides established their strategic partnership during the official visit by Party General Secretary Nguyen Phu Trong.

Last year, two-way trade surged more than 20 percent to hit 10 billion USD, he noted, adding that in the first 10 months of this year, the figure already reached 7.8 billion USD, up 15 percent year on year.

Investment is also a bright spot in bilateral cooperation, he said. Thailand has been one of the ten leading investors in Vietnam with 324 projects totalling nearly 6.5 billion USD.

According to Chokdee Kaewsang, Deputy Secretary-General of the Thai Board of Investment, Thailand now ranks third in list of ASEAN investors abroad. The number of Thai businesses wishing to expand investment in another countries, especially ASEAN members, is increasing, Chokdee said.

Vietnam is now a particularly attractive investment destination with socio-political stability and an abundant labour force. The country has also integrated more deeply into the regional and global economy as the 150 th member of the World Trade Organisation, the official noted.

Chokdee also pointed out that enterprises from both countries are enjoying a favourable business and investment environment. Many bilateral agreements have been signed, while both countries are participating in many multilateral cooperation frameworks.

Vietnam and Thailand are striving to achieve two-way trade of 15 billion USD in 2020, he noted.

The conference is an opportunity for businesses from Thailand and central region of Vietnam to get closer and seek partnership to match their cooperation potential.

Source VNA

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