Major and small- and medium-sized enterprises from Thailand haveexpanded operations in Vietnam in recent years, helping create an inflowof Thai investments, experts said at a business forum in Ho Chi MinhCity on July 8.
Vietnam and Thailand are closepartners in all fields and especially in education and tourism. The AEANEconomic Community (AEC), scheduled to be formed in late 2015, will be aplatform for the two countries to further share experience andresources, expand markets, and tap into the bloc’s potential, saidMalinee Harnboonsong – Director of the Commercial Office at the ThaiConsulate General in HCM City.
According toTharabodee Serng-Adichaiwit, General Manager of the Bangkok Bank’s HCMCity branch, Vietnam’s political stability, growing economy andimproving legal system create a favourable investment and businessclimate for domestic and foreign firms. The country is also a largemarket in ASEAN with a population of over 90 million, increasinglyskilled workforce, low production costs and clear regulations onpersonal and enterprise taxes.
He suggested Thaicompanies boost their activities through forming joint ventures andbuilding factories in industrial parks.
The forum,held by the Ministry of Industry and Trade’s Trade Promotion Agency andthe Thai Commercial Office, revealed that Thailand is currently thebiggest Southeast Asian trade partner of Vietnam with trade reaching10.6 billion USD in 2014 and approximately 4.4 billion USD in the firstfive months of this year. They aim to reach 15 billion USD in traderevenue by 2020.
Nguyen The Hung, Deputy Director ofthe HCM City branch of the Vietnam Chamber of Commerce and Industry,said Vietnam still recorded a trade deficit with Thailand and isstriving to ensure balance.
Since the AEC will bringabout dramatic shifts in trade, services and capital flows, Vietnameseand Thai businesses need to gear up to optimise opportunities,ultimately bolstering bilateral commerce, he noted.
Among ASEAN business circles, Thai enterprises are considered dynamicand active in preparing for AEC integration, Hung said, askingVietnamese firms to join trade and investment promotion delegations topromote their capacity of entering Thai markets and those in ASEAN ingeneral.-VNA
Vietnam and Thailand are closepartners in all fields and especially in education and tourism. The AEANEconomic Community (AEC), scheduled to be formed in late 2015, will be aplatform for the two countries to further share experience andresources, expand markets, and tap into the bloc’s potential, saidMalinee Harnboonsong – Director of the Commercial Office at the ThaiConsulate General in HCM City.
According toTharabodee Serng-Adichaiwit, General Manager of the Bangkok Bank’s HCMCity branch, Vietnam’s political stability, growing economy andimproving legal system create a favourable investment and businessclimate for domestic and foreign firms. The country is also a largemarket in ASEAN with a population of over 90 million, increasinglyskilled workforce, low production costs and clear regulations onpersonal and enterprise taxes.
He suggested Thaicompanies boost their activities through forming joint ventures andbuilding factories in industrial parks.
The forum,held by the Ministry of Industry and Trade’s Trade Promotion Agency andthe Thai Commercial Office, revealed that Thailand is currently thebiggest Southeast Asian trade partner of Vietnam with trade reaching10.6 billion USD in 2014 and approximately 4.4 billion USD in the firstfive months of this year. They aim to reach 15 billion USD in traderevenue by 2020.
Nguyen The Hung, Deputy Director ofthe HCM City branch of the Vietnam Chamber of Commerce and Industry,said Vietnam still recorded a trade deficit with Thailand and isstriving to ensure balance.
Since the AEC will bringabout dramatic shifts in trade, services and capital flows, Vietnameseand Thai businesses need to gear up to optimise opportunities,ultimately bolstering bilateral commerce, he noted.
Among ASEAN business circles, Thai enterprises are considered dynamicand active in preparing for AEC integration, Hung said, askingVietnamese firms to join trade and investment promotion delegations topromote their capacity of entering Thai markets and those in ASEAN ingeneral.-VNA
