Thailand Eyes More Investment in Vietnam

Thai investors plan more investment in Vietnam where they see as a promising investment destination in ASEAN region in the future for its great potentials, the Thai Ministry of Commerce Spokesman said on August 14.

 

Investors from Thailand are more interested in Vietnam’s areas of labor intensive industries, hotel and tourism, services, agriculture and manufacturing, said Spokesman Krisda Piampongsant in an interview with the Vietnam News Agency on the sidelines of the ongoing 41st ASEAN Economic Ministers Meeting (AEM). .

 

Vietnam has the privilege of gaining preferential access to the European Union market with lower duties, he said, adding that this is part of the EU trade arrangement called Generalized System of Preferences.

 

The privilege is a favorable condition to encourage Thai investors to enter the market, the Thai official noted.

 

The AEM attracting ASEAN economic ministers and representatives China, the Republic of Korea, Japan, India, Australia, New Zealand and the U.S. are taking place in Bangkok, Thailand, from August 13-16.

 

Currently, Thailand ranks the 8th among foreign investors in Vietnam with 182 projects worth US$5.7 billion.

 

Two-way trade reached US$6.2 billion in 2008, up 31% on-year. The two nations aim for the bilateral trade value of US$10 billion in 2010. (VNA)