VN’s parts-industry seeks Thai investors

The seminar was held by the Vietnam Trade Office, the Thai Board of Investment (BOI) and the Federation of Thai Industries (FTI). It attracted experts from Vietnam’s Investment and Planning Ministry, that ministry’s Industrial Policy and Strategy Institute, the BOI, the FTI, and Thai and foreign enterprises in Thailand.
The experts provided the seminar’s participants with valuable information about the potential for investment and trade in Vietnam during the process of international integration. The seminar was also a chance to release Vietnam’s policies on attracting investment in the parts supply industry in the country, Vietnam News Agency’s correspondent in Bangkok reported.
Chokedee Kaewsang, BOI deputy secretary-general, said Thailand has had experience in developing the parts industry for 20 years. It was the basis for developing main industries in Thailand, including the production of autos, electronic equipment and machines, and was the prerequisite to improving the competitiveness of industrial manufacturing products.
According to the experience of Thailand, a developed parts-supply industry would attract great foreign investment, he said.
Important factors in developing the industry have included marketing, skilled human resources, tax policies and support from the state, he said. He suggested Vietnam should put particular focus on developing skilled human resources with reasonable support from the state.
Regarding investment opportunities in Vietnam’s parts-supply industry, Chokedee said Vietnam was a high-potential market with favourable conditions in geography, stable and high growth in the economy, and open investment incentives.
Vietnam’s increasingly strong integration in regional and global economies through the signing of many free-trade agreements would be another favourable condition in calling on foreign investors, particularly Thai enterprises and production industries, including the parts-supply industry, he said.
The Vietnamese government has directed industries and businesses to focus on the development of the local parts-supply industry with many preferential policies and specific plans to develop this particular sector.
Meanwhile, Thailand has much experience in developing the industry with investment from groups and companies from industrially developed countries such as Japan, the United States, Britain and France. Those groups and enterprises in Thailand would be potential investors for Vietnam’s industries.
According to Vietnam’s Planning and Investment Ministry, as of June, Thai interests had investments in 466 projects in Vietnam with total capital of US$9.44 billion.