Participants at the press conference (Photo: VNA) Bangkok (VNA) - Vietnam is still adestination for foreign investment, including Thailand because it is a largeand growing market, Tanee Sangrat, DirectorGeneral of the Department of Information and Spokesman of the Foreign Ministryof Thailand, has said.
Addressing at a press conference themed “Golden opportunity for Thaiinvestors in Vietnam” jointly held by the Vietnamese Embassy in Thailand, theThailand-Vietnam Business Council (TVBC) and Amata Vietnam Public CompanyLimited on January 26, Tannee Sangrat, who isalso former Thai Ambassador to Vietnam, affirmed that Vietnam has been one ofThailand's most important foreign investment markets since its first investmentin Vietnam after the country’s policy of doi moi (renewal).
Thai businesses entering Vietnam are growing stronger and their investmentis expanding and gaining success, he said.
He highly valued Vietnam's efforts to improve competitiveness and investmentand business environment to attract FDI, saying that the success of Thai investorsin Vietnam in the next few years will largely depend on continuation of thecurrent investment policy and the support of the Vietnamese Government, and thecountry’s economic growth.
Meanwhile, Chairman of the TVBC Sanan Angubolkulmentioned a number of reasons for Thai businesses to invest in Vietnam,including political stability, successful control of the COVID-19 epidemic,abundant and quality workforce, and attractive investment incentives, potentialdomestic market with large purchasing power, and open investment environment.
Vietnam has joined 17 free trade agreements (FTAs) with 55 countries, and newgeneration FTAs such as the European Union - Vietnam Free Trade Agreement(EVFTA), theComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)agreement, and the Regional Comprehensive Economic Partnership (RCEP), have helpedcreate new opportunities for Vietnamese exports, he said.
Thai businesses need to take advantage of these to set up manufacturing factoriesin Vietnam for export, he added.
Ambassador Phan Chi Thanh briefed participants on Vietnam’s economic achievementsin recent times and its socio-economic development goals in the next ten years.
Vietnam needs to mobilise about 200-300 billion USD of foreign investment inthe 2021 - 2030 period, he said.
He spoke highly of success of Thai business operating in Vietnam, describing itas a vivid manifestation of long-term cooperation between the two countries.
According to Thanh, Thailand currently ranks the 9th biggest investment partnerof Vietnam with 603 FDI projects worth 13 billion USD, and investment flowsfrom Thailand to Vietnam is expected to strongly increase in the coming time.
He affirmed that Vietnam is a successful and safe destination for foreign investors,especially in the context of supply chain disruptions due to trade tensions andthe COVID-19 pandemic.
Somhatai Panichewa - General Director and Chief Executive Officer of AmataVietnam Plc (AMATAV), said in the perspective of an industrial estate developerin Vietnam, the company believes in the growth of Vietnam.
The Thai firm has so far operated six projects with a total investment of about840 million USD in Vietnam.
Through the global business disruption due to the COVID-19 pandemic, Vietnamwas among very few countries in the world enjoyed positive economic growth(GDP) of 2.91 percent in 2020. The country’s economic outlook for 2021 isbright with GDP of 6.5-7 percent as expected by international financial organizationssuch as the World Bank, the International Monety Fund and ASEAN DevelopmentBank./.
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