Neighbouring markets very important
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Re: “CLMV’s bright future to continue: Chartsiri”, June 16.
Chartsiri Sophonpanich correctly points out the importance of neighbouring markets to Thai companies. In Cambodia, most major Thai companies are looking at having some kind of local operations.
Our products and services are popular with a reputation for good quality, and many Thai companies employ Khmers at factories in border areas such as Prachin Buri, Chon Buri and Rayong
Construction workers officially number 660,000, or 5 per cent of Cambodia’s population.
Cambodia allows many Thai companies to continue in “sunset” industries such as garment manufacturing. Cambodia has the most liberal investment laws in the world. Last year, Thailand ranked seventh in foreign investment in Cambodia at only 1.18 per cent.
There are industries such as hotels, construction and real estate that are virtually untapped by Thai companies.
Information from local business leaders about CLMV (Cambodia, Laos, Myanmar and Vietnam) will be an impetus toward their looking at the opportunities at their doorstep.
Thai companies are already making very big acquisitions in Vietnam and one of Thailand’s groups has 22 companies there.
Andrew Delaney
Phnom Penh
