Thai investors are shifting their investment
strategies overseas to reduce risks and seek more business opportunities and
Vietnam is one of their destinations.
The
President and CEO of the Siam Cement Group (SCG), Kan Trakulhoon, said that the
company has started a number of major investment projects in Vietnam since
early in 2012.
SCG and
Thai Plastics and Chemicals (TPC) signed a joint venture agreement with QPI
Vietnam, PetroVietnam and Vinachem to invest in Vietnam’s first petrochemical
complex. Under the US$4.5 billion project, SCG will hold 28 percent of the
stake and TPC will hold18 percent, while the remainder will go to the other
strategic partners. The project is expected to be operational within the next
four years.
Meanwhile,
the Amata Group of Thailand has planned to expand its investment in Vietnam.
The Director General of Amata Vietnam, Huynh Ngoc Phien, said it is expanding
the Amata industrial zone in Dong Nai province by 55 hectares in the second
phase and 66 hectares in the third phase. It is also working on a trade centre
project covering 20 hectares of land.
The
complex includes a trade centre and office and urban areas, as well as medical
centres and schools.
Amata
was also granted an investment license to build the Amata Express City in Long
Thanh, Dong Nai province, and has plans to invest in a tourist resort in Da
Nang.
The 4
Oranges paint manufacturing company from Thailand also announced that it will
increase its investment capital in Vietnam from US$60 million to US$90 million
over the next year.
The
President of 4 Oranges, Smit Chea, said that in the future, the company will
focus on investing in technology and environmentally-friendly products. He
added that it will also pay special attention to in-depth, long term
investments and sustainable development in Vietnam instead of building new
factories.
It’s
time to expand operations in Vietnam, he said.
VOV
Business & Investment Opportunities
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