Thai businesses focus on VN processing, manufacturing industries

A corner of Nguyen Kim Supermarket. Its shares have been acquired by Power Buy, a subsidiary of the Central Group of Thai billionaire Chirathivat. - Photo thebank.vn

According to the agency, there are about 200 Thai projects in such industries, worth a total US$7 billion and comprising 88 per cent of Thailand's total investment in Viet Nam.

These sectors are followed by agriculture, forestry and seafood sectors, which have 31 projects worth $235 million. The rest are in retail and construction sectors.

As of the end of February this year, Thai businesses had invested in 428 projects in the country, with a total investment capital of $7.88 billion, ranking 11th among countries and territories that have invested the largest capital in Viet Nam.

A Thai project was worth $18.4 million on average, about $14 million more than the average value of a foreign investment project in the country.

The southern Ba Ria – Vung Tau Province attracted the highest number of foreign direct investment projects from Thailand, worth $3.77 billion. It's followed by the northern Vinh Phuc Province with projects worth $744 million and the southern Binh Duong Province with $513.4 million.

The statistics also showed that Thai joint venture investments comprised 70 per cent of Thailand's registered investment in Viet Nam, worth $5.5 billion.

Viet Nam has become a favourite destination of many Thai billionaires in recent years, with many large projects and merger and acquisition transactions taking place in retail and consumption areas.

These include Thai company Berli Jucker's (BJC's) purchase of Metro Cash & Carry Viet Nam for more than $870 million; and Power Buy, a subsidiary of the Central Group of Thai billionaire Chirathivat, also acquired a 49 per cent share in New Solution and Technology Development Company NKT, the owner of Viet Nam's leading retailer Nguyen Kim Trading JSC.