Thailand expands investment in Vietnam

A seminar on promoting trade ties between Vietnam and Thailand was held in Ho Chi Minh City on June 30 by the Vietnam Chamber of Commerce and Industry (VCCI) in co-ordination with the Thai Ministry of Industry.

Surasith Bungbhisand, Deputy Director of the Thai Department of Industrial Promotion, noted that the trade ties between Vietnam and Thailand have grown steadily over the years.

He said Thailand currently has 250 projects operating in Vietnam with a total capitalisation of US$5.8 billion, and is one of the top ten countries of most investment into Vietnam.

Vietnam has political stability and great economic potential for many Thai groups such as Tipco, Amata and Siam Cement Group to expand investment in Vietnam, he said.

Two-way trade turnover between the two countries in 2010 reached about US$7.5 billion, up 21 percent against the previous year with Vietnam’s exports to Thailand rising 10 percent to US$1.2 billion.

Nguyen The Hung, a representative from the VCCI, said the business circles of the two countries are keen to boost cooperation in many fields. Many Vietnamese businesses are opening representative offices in Thailand to seek investment opportunties and cooperation partners.   

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