Thai SME delegation seeks City business opportunities

04:08, 31/08/2007

A Thai trade delegation of 140 small- and medium-sized enterprises (SMEs)has arrived in HCM City lately for a fact-finding trip to sound out business opportunities. The delegation visited the Amata Industrial Park in Bien Hoa in the southern province of Dong Nai as part of the Viet Nam Study Tour organised by the Thai Siam Commercial Bank.

A Thai trade delegation of 140 small- and medium-sized enterprises (SMEs) arrived in HCM City last Friday for a fact-finding trip to sound out business opportunities.

 

The delegation visited the Amata Industrial Park in Bien Hoa in the southern province of Dong Nai as part of the Viet Nam Study Tour organised 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 would find in Viet Nam political stability, low labour costs and favourable natural conditions and good transport facilities.

 

Viet Nam is a big consumer market with a population of 84 million, with 70 per cent in working age, he said.

 

Currently there is an imbalance in two-way brade volume between Viet Nam and Thailand.

 

"I can see dramatic changes in Viet Nam 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 and possibly to 20 billion baht by year-end," said Sooksunt Jiumjaiswanglerg, area president of CP Group.

 

He said labour costs were lower in Viet Nam than in Thailand.

 

Businesses, however, should take into account land-related matters since local laws only authorise a foreign concern to rent and 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 Viet Nam, said VinaSiam Joint Venture Bank’s general director Sahasin Yuttarat.

(Source: VNS)