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Thursday, July 25, 2024

Thai firms eye Vietnamese market

The Saigon Times

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HCMC – Some 40 Thai enterprises active in various fields such as energy, technology, agriculture and infrastructure will visit Vietnam to seek investment opportunities next month.

Kongkiat Opaswongkarn, general director of Thailand’s Asia Plus Group Holdings PCL, was speaking at a meeting with other Thai firms on July 26.

Kongkiat also affirmed that Vietnam is an attractive destination for investment and business, the local media reported.

The group of major Thai firms will choose HCMC as a networking place for their plan to ramp up investment in the country.

Speaking at the meeting, Vietnamese Ambassador to Thailand Phan Chi Thanh said that Vietnam is taking sustainable development into account, thereby encouraging foreign investors in technology, renewable energy, hi-tech-based agriculture and electronics among others.

Foreign investors doing business in Vietnam will be entitled to incentives and favorable conditions, said the Vietnamese ambassador.

Vietnam has signed a number of free trade agreements such as the European Union – Vietnam Free Trade Agreement, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership, facilitating the connection with the regional and global markets.

It is high time that Thai firms should enhance their investment in Vietnam after the two-year suspension induced by the Covid pandemic, said Ambassador Thanh, adding that the country has put the pandemic under control and is on the way to bring the economic growth back on track.

Ambassador Thanh also said that foreign investment plays an important role in Vietnam’s economic development strategy to move toward turning the country into a developed and high-income one in 2045.

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