Thailand Brings Businesses to Look for Investment Opportunities
At the Thai – Vietnamese investor connection event organized by IPA Vietnam and the Thai Board of Investment (BOI) on the evening of August 28, Mr. Narucha Ruchuphan, Deputy Secretary General of BOI, said that, “Vietnam is one of the markets that Thai businesses are especially interested in today”. Within the framework of BOI’s investment and business survey trip in Vietnam, there were 25 businesses mainly in the fields of mechanical engineering, energy, plastics and consumer goods. Many businesses expect investment and business cooperation opportunities after this trip.
Statistics show that in the first half of 2024, foreign investors continue to pour capital into Vietnam, including Thai investors with a total registered capital of about 100 million USD. Accumulated by the end of June 2024, the total capital invested by Thai investors in Vietnam reached about 14.1 billion USD, ranking 9th out of 144 countries and territories investing in Vietnam. Of which, Thai investors mainly invest in processing and manufacturing industry with 10.46 billion USD, accounting for 74% of total investment capital. Next is the field of electricity, water and air conditioning repair with 1.18 billion USD, accounting for 8% of total investment capital. The remaining sectors are real estate, wholesale and retail, agriculture and fisheries… With the successes achieved in Vietnam, in recent years, many large Thai companies such as TCC Group, ThaiBev, Central Group and CP Group have expanded their investment and business activities. Along with investment, according to BOI, trade turnover between the two countries has reached 29 billion USD.
Mr. Nguyen Dinh Nam, Managing Director of IPA Vietnam, said that with its increasing position in the supply chain and competitive advantages in geopolitics, labor costs and economic growth potential… Vietnam is is an attractive investment destination for many international investors, including Thai investors. However, Thai investors mainly invest in southern provinces such as Ba Ria – Vung Tau, Dong Nai, Binh Duong, Kien Giang, Ho Chi Minh City and Bac Lieu. The Central provinces (Nghe An, Quang Binh) and the North (Hanoi, Vinh Phuc) only account for a small amount of capital in the Top 10 localities attracting a lot of investment capital from Thailand. “Therefore, during this business trip to Vietnam, Thai investors came to survey the investment and business environment in some northern provinces,” Mr. Nam said.
To promote investment and business cooperation between the two countries in the coming time, Deputy Secretary General of the Thai Investment Council said that the main role and responsibility of BOI was to promote investment and support Thai investors to invest abroad, including Vietnam. Accordingly, BOI always creates the closest and most timely conditions and support for Thai investors; at the same time, it demonstrates its commitment to creating a friendly and connected investment environment, contributing to promoting economic cooperation between the two countries.
