Vietnam eyes Thailand's investment in supporting industries

BANGKOK, October 6 (TNA) - Vietnam has invited Thai business operators to invest in its growing supporting industries. The visiting Deputy Director-General of Vietnam's Foreign Investment Agency, under the Ministry of Planning and Investment, Dang Xuan Quang, wooed the Thai investment while delivering his speech at a seminar on “Investment Opportunities in Supporting Industries in Vietnam”, organized in Bangkok on Thursday by the Vietnamese Embassy to Thailand, the Board of Investment of Thailand (BOI) and the Federation of Thai Industries (FTI). Dang said Vietnam is developing supporting industries, which provide raw materials and services for major industries. While inviting Thai business operators to invest in Vietnam's supporting industries, Dang pointed out that Vietnam has many strong points favoring foreign investors, including its fast growing domestic market, stable political situation, good location, tax incentives and large labour forces. Besides, Vietnam has trade agreement with 55 countries worldwide. Meanwhile, BOI Deputy Secretary General Chokedee Kaewsang acknowledged that Thailand's expanding investment in supporting industries could then raise the national status from a middle-income nation currently. Chokedee suggested, however, that Thai investors map out their clear-cut strategies and conduct studies on their targeted countries before making a decision to expand their investment projects overseas. A BOI technical specialist, Audsitti Sroithong, proposed that Thai investors consider expanding their projects in the manufacturing of packages and additives, service providers, project management and cleaning service in Vietnam. (TNA)