More Thai Firms Increase Investments in Vietnam
Charoen Pokphand Group (CP), the largest business group in Thailand, plans to raise its investments in Vietnam, mainly focusing on agriculture, real estate and retail in next five years.
The Thai group will invest $150 million-$200 million to build four more factories for processing food for domestic animals, poultry, and fish in Vietnam next five years, Sooksunt Jiumjaiswanglerg, Vice President of CP said.
Meanwhile, the Siam Cement Group (SCG), one of Thai leading industry group, is seeking capitals to boost investments abroad, especially in ASEAN region, including Vietnam.
SCG is building an oil-refinery and petro-chemical complex in Vietnam, and it has announced its plan, worth at least $3.3 billion, to enlarge its business in ASEAN next five years.
Earlier, Pannee Chengsuttha, director of Thailand Board of Investment said that more Thai companies will boost investments in power, electronics, equipment, plastic and chemical projects next years.
As of November 20, Thai companies have to date invested $5.75 billion into 235 projects in Vietnam, ranking the 10th among countries and territories making direct investment in the country. (VoV, Vietnamplus)
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