Thai bank pushes investors to explore Vietnam

14/05/2010
Vietnam Net/ Sinhua

The Economic Intelligence Centre of the Siam Commercial Bank (SCB) has urged Thai private investors to look for opportunities in three Indochinese countries and Myanmar amidst its losing position in Vietnam.

Since 2000, Thailand has emerged as a leading exporter to Cambodia, Laos and Myanmar but losing its high position in Vietnam.

Thai foreign direct investments increased in Laos but decreased in Vietnam and Cambodia.

The SCB Economic Intelligence Centre Director, Sethaput Suthiwartnarueput, said the ASEAN Free Trade Agreement (AFTA) would bring in better conditions and offer more opportunities of investment in these markets.

Vietnam has great potential in manufacturing industry, healthcare services and brewage, he pointed out.

He also talked of Myanmar’s potential in agriculture and mobile phone services as well as opportunities of investment in Internet in Cambodia.

The above-mentioned sectors and tourism are expected to attract Thai giants while medium and small-sized enterprises have been advised to gear to trade and exports.

Political chaos were blamed for outflows of Thai investments to foreign markets and a half cut in foreign investments into Thailand.

Foreign investments in Thailand dropped from 2.5 billion USD quarterly to just 1.2-1.4 billion USD in the fourth quarter of 2009.