Workshop boosts Thailand’s investment in Binh Duong

The event, themed “Vietnam – business destination in ASEAN” was hosted by Becamex IDC Corporation and the Federation of Thailand Industries (FTI).

The event presented opportunities for Thailand enterprises to explore the economic potential and investment procedures of Vietnam and Binh Duong province, as well as meet with potential Vietnamese partners.

Addressing the event, FTI Vice President Kriengthai Thiennukul, described Vietnam as one of the most dynamic economies in the region with a population of nearly 100 million people and increasing purchasing power.

He highlighted the stable politics, abundant workforce and investment incentives, adding that Thai enterprises should take the opportunity to connect with Vietnamese firms.

According to Bui Minh Tri, Head of the Binh Duong Industrial Park Management Board, the park is home to 18 Thailand-invested projects, worth US$600 million, including big groups like SCG, CP, TCC and SriThai.

The province aims to improve its investment environment to help foreign investors operate more effectively in the locality, Tri pledged.

After 20 years since it was re-established, Binh Duong has become a top destination for foreign investors. It ranks second to Ho Chi Minh City in terms of luring foreign direct investment (FDI), reaching US$28.7 billion in 3,602 projects from 63 nations and territories.

Besides strong development in industry, Binh Duong is working with the Intelligent Community Forum to build a smart city.

Thailand has become one of the leading economic partners of Vietnam in ASEAN. The two nations are aiming for two-way trade value of US$20 billion by 2020.

Currently, it is the 10th biggest investor in Vietnam, with 480 projects, worth US$8.5 billion.

Source: VNA