A Thai trade delegation of 140 small-and medium-sized enterprises (SMEs) arrived in Ho Chi Minh City last week to seek for business opportunities in the southern economic hub, local media reported.
The delegation visited the Amata Industrial Park in Bien Hoa City of southern Dong Nai province as part of the Vietnam Study Tour organized by the Thai Siam Commercial Bank, which has a wide network of branches in Thailand.
The businesspeople met with other Thais who are already doing business here to seek out investment opportunities.
Speaking at a meeting at the Caravelle Hotel, a Thai consulate representative said investors will find in Vietnam political stability, low labor costs and favorable natural conditions and good transport facilities.
“I can see dramatic changes in Vietnam after living here for a few years. Our corporate sales figure has risen continuously with this year’s number doubling that of 2004-2005 at 18 billion baht (US$550.65 million) and possibly to 20 billion habit by year-end,” said Sooksunt Jiumjaiswanglerg, area president of CP Group.
He said labor costs in Vietnam were lower than in Thailand.
Businesses, however, should take into account land-related matters since local laws only authorize a foreign concern to rent but not own land, he said.
A Thai Corp representative said consumer goods and small-and medium-sized enterprises were suited to the Vietnamese market, which remains in small scale.
“This should match the investment capacity of Thai SMEs,” he added.
Tourism and housing are two areas that have untapped potential in Vietnam, said VinaSiam Joint Venture Bank’s general director Sahasin Yuttarat.
Vietnam and Thailand have targeted to raise two-way trade to US$5-6 billion in 2010 from estimated US$3.7 billion in 2006. (VNA)
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