Twenty years after joining the Association of Southeast AsianNations, Vietnam has become an attractive destination for investors fromthe region, the Vietnam Investment Review reported, adding that ASEANinvestments have greatly contributed to fueling the country’s economicdevelopment.
According to the newspaper, the country has so farlured over 54.6 billion USD from regional investors, with the majoritycoming from Singapore, Malaysia, and Thailand, which respectively rank3rd, 8th, and 10th among the 103 countries and territories withinvestments in Vietnam.
Currently, Singapore is the largestinvestor in Vietnam amongst ASEAN member nations, with a totalregistered capital of 33.2 billion USD, followed by Malaysia (10.9billion USD), Thailand (6.8 billion USD), and Brunei (1.7 billion USD).
Industryinsiders attributed Singapore’s ranking to huge investments from itsleading groups, such as Sembcorp, Keppel Land, VinaCapital, Mapletree,and Banyan Tree. Singapore’s firms also contributed capital to Samsung’sbillion dollar projects in Thai Nguyen, Bac Ninh, and Ho Chi Minh City.
Sembcorphas expanded its investment in Vietnam by partnering with Becamex BinhDuong to develop industrial parks, urban areas and service centres inBinh Duong, Bac Ninh, Hai Phong, Quang Ngai, Hai Duong and Nghe An.
Meanwhile,Malaysia is acknowledged for its investments in the Berjaya VietnamInternational University Township project worth 3.5 billion USD, as wellas the 1.84 billion USD Hai Duong thermo-power project.
Notably,Vietnam has seen a wave of Thai investments in recent times, as manymajor and small- and medium-sized enterprises from Thailand haveexpanded operations in Vietnam. In particular, Thailand’s SiamCommercial Bank (SCB) has been allowed to establish its branch inVietnam on the acquisition of VinaSiam Bank (VSB), a joint-venturebetween Vietnam Bank for Agriculture and Rural Development (Agribank),Thailand’s Siam Commercial Bank (SCB) and Charoen Pokphand Group.
Inaddition, Thai giant Berli Jucker (BJC), owned by billionaire AswinTechajaroenvikul, announced that it had held a controlling stake in PhuThai Group since 2013, and bought stakes in Japan’s Family Mart in ajoint venture with Phu Thai to operate 95 BJC Mart outlets.
TheVietnamese market also witnessed the advent of another Thai retailer -Central Group. The company bought one of the largest electronicsshopping centre operators in Vietnam, Nguyen Kim Trading JSC, throughits subsidiary and leading Thai electronics store operator Power Buy.
In2013, Siam Cement Group (SCG) spent a huge sum on acquiring PrimeGroup, a Vietnamese tile manufacturer. SCG also joined the developmentof the 4.5 billion USD Long Son refinery project in Ba Ria-Vung Tauprovince.
Another famed Thai firm is Amata, the investor of theAmata industrial park in Bien Hoa city, located in the southern provinceof Dong Nai. Amata also has plans to invest in projects in Quang Ninhand Binh Dinh provinces.
Recently, industry insiders are keepinga close eye on PTT, Thailand’s largest oil and gas conglomerate, andits partner Saudi Aramco, who have been seeking a Vietnamese partner totake the next steps toward investing in the Victory refinery andpetrochemical project, worth 22 billion USD in the central province ofBinh Dinh. If the project is approved, Thailand’s total investment inVietnam would increase significantly.
It is forecast that whenthe ASEAN Economic Community (AEC) is established at the end of 2015,FDI inflows into ASEAN nations will increase greatly, and Vietnam willbenefit from the trend, the newspaper said. However, Vietnam might haveto face fierce competition with Thailand, Indonesia, Myanmar, Cambodia,and Laos in attracting foreign investors.-VNA
According to the newspaper, the country has so farlured over 54.6 billion USD from regional investors, with the majoritycoming from Singapore, Malaysia, and Thailand, which respectively rank3rd, 8th, and 10th among the 103 countries and territories withinvestments in Vietnam.
Currently, Singapore is the largestinvestor in Vietnam amongst ASEAN member nations, with a totalregistered capital of 33.2 billion USD, followed by Malaysia (10.9billion USD), Thailand (6.8 billion USD), and Brunei (1.7 billion USD).
Industryinsiders attributed Singapore’s ranking to huge investments from itsleading groups, such as Sembcorp, Keppel Land, VinaCapital, Mapletree,and Banyan Tree. Singapore’s firms also contributed capital to Samsung’sbillion dollar projects in Thai Nguyen, Bac Ninh, and Ho Chi Minh City.
Sembcorphas expanded its investment in Vietnam by partnering with Becamex BinhDuong to develop industrial parks, urban areas and service centres inBinh Duong, Bac Ninh, Hai Phong, Quang Ngai, Hai Duong and Nghe An.
Meanwhile,Malaysia is acknowledged for its investments in the Berjaya VietnamInternational University Township project worth 3.5 billion USD, as wellas the 1.84 billion USD Hai Duong thermo-power project.
Notably,Vietnam has seen a wave of Thai investments in recent times, as manymajor and small- and medium-sized enterprises from Thailand haveexpanded operations in Vietnam. In particular, Thailand’s SiamCommercial Bank (SCB) has been allowed to establish its branch inVietnam on the acquisition of VinaSiam Bank (VSB), a joint-venturebetween Vietnam Bank for Agriculture and Rural Development (Agribank),Thailand’s Siam Commercial Bank (SCB) and Charoen Pokphand Group.
Inaddition, Thai giant Berli Jucker (BJC), owned by billionaire AswinTechajaroenvikul, announced that it had held a controlling stake in PhuThai Group since 2013, and bought stakes in Japan’s Family Mart in ajoint venture with Phu Thai to operate 95 BJC Mart outlets.
TheVietnamese market also witnessed the advent of another Thai retailer -Central Group. The company bought one of the largest electronicsshopping centre operators in Vietnam, Nguyen Kim Trading JSC, throughits subsidiary and leading Thai electronics store operator Power Buy.
In2013, Siam Cement Group (SCG) spent a huge sum on acquiring PrimeGroup, a Vietnamese tile manufacturer. SCG also joined the developmentof the 4.5 billion USD Long Son refinery project in Ba Ria-Vung Tauprovince.
Another famed Thai firm is Amata, the investor of theAmata industrial park in Bien Hoa city, located in the southern provinceof Dong Nai. Amata also has plans to invest in projects in Quang Ninhand Binh Dinh provinces.
Recently, industry insiders are keepinga close eye on PTT, Thailand’s largest oil and gas conglomerate, andits partner Saudi Aramco, who have been seeking a Vietnamese partner totake the next steps toward investing in the Victory refinery andpetrochemical project, worth 22 billion USD in the central province ofBinh Dinh. If the project is approved, Thailand’s total investment inVietnam would increase significantly.
It is forecast that whenthe ASEAN Economic Community (AEC) is established at the end of 2015,FDI inflows into ASEAN nations will increase greatly, and Vietnam willbenefit from the trend, the newspaper said. However, Vietnam might haveto face fierce competition with Thailand, Indonesia, Myanmar, Cambodia,and Laos in attracting foreign investors.-VNA
