There will be a substantial injection of investment into Vietnam fromThai businesses in the near future, said the Chairman of the People’sCommittee of southeastern Dong Nai province, Dinh Quoc Thai.
TheLao Dong (Labour) newspaper recently reported that following thecolossal flooding in Thailand a few months ago, Thai investors are nowlooking for destinations to move their factories to. A large number ofThai companies conducted market surveys in Vietnam and now many areconsidering moving their production and business activities to Vietnam.Thai added that many Thai businesses chose Vietnam rather than any ofthe other ASEAN member nations.
At the same time, the head of themanagement board of Binh Duong industrial zones Tran Van Lieu, saidthat the cheap and abundant workforce in Vietnam and its strong economicgrowth have attracted many Thai investors as floods and high costs inThailand have cost them dearly.
In August, 2011, the Royal FoodsCompany invested 420 billion VND into its second project in the country,in central Nghe An province, its first one being in the Mekong Deltaprovince of Tien Giang.
At the end of last November, the RayongRefinery Company and the company STFE, both from Thailand, put forward aproposal to build an oil refinery and thermo-electric power station inthe Nhon Hoi Economic Zone in central Binh Dinh province.
OtherThai companies making a move towards Vietnam include Skhon Kaen, whospecialise in manufacturing canned foods and sausages. Berli Jucker alsohas plans to build two plants in Vietnam in the first half of this yearto manufacture glass bottles and cans for the beverage industry.
Atpresent, Thailand is already one of the 10 largest foreign investors inVietnam, with more than 250 projects totalling more than 5.8 billionUSD.-VNA
TheLao Dong (Labour) newspaper recently reported that following thecolossal flooding in Thailand a few months ago, Thai investors are nowlooking for destinations to move their factories to. A large number ofThai companies conducted market surveys in Vietnam and now many areconsidering moving their production and business activities to Vietnam.Thai added that many Thai businesses chose Vietnam rather than any ofthe other ASEAN member nations.
At the same time, the head of themanagement board of Binh Duong industrial zones Tran Van Lieu, saidthat the cheap and abundant workforce in Vietnam and its strong economicgrowth have attracted many Thai investors as floods and high costs inThailand have cost them dearly.
In August, 2011, the Royal FoodsCompany invested 420 billion VND into its second project in the country,in central Nghe An province, its first one being in the Mekong Deltaprovince of Tien Giang.
At the end of last November, the RayongRefinery Company and the company STFE, both from Thailand, put forward aproposal to build an oil refinery and thermo-electric power station inthe Nhon Hoi Economic Zone in central Binh Dinh province.
OtherThai companies making a move towards Vietnam include Skhon Kaen, whospecialise in manufacturing canned foods and sausages. Berli Jucker alsohas plans to build two plants in Vietnam in the first half of this yearto manufacture glass bottles and cans for the beverage industry.
Atpresent, Thailand is already one of the 10 largest foreign investors inVietnam, with more than 250 projects totalling more than 5.8 billionUSD.-VNA
