Vietnam and Thailand trade turnover estimated at $10b in 2010

In 2010, trade turnover between Vietnam and Thailand was estimated to increase by 21 percent, reaching $7.5 billion, in which Vietnam’s export to Thailand increased by nearly 10 percent.

So far, Thailand has had over 230 projects in Vietnam, ranking in the top-ten countries and territories investing into Vietnam. In the Asean cooperation framework, many products on the exporting and importing list between two countries have aimed at a zero percent tax rate.

Currently, Vietnam and Thailand are closely coordinating information exchange on exporting rice and continuing export promotion.

The investment capacity of Thailand enterprises into Vietnam is estimated to continuously increase as many Thai enterprises and businesspeople shift their investment and expand their business in Vietnam.

Big Thai corporations such as Tipco, Amata and Siam Cement Group, and Charoen Pokphand Group are promoting and expanding their investment into Vietnam. Charoen Pokpland Group will expand investment into Vietnam, focusing on agriculture, real estate and retail.

Particularly, this giant corporation will spend $150-200 million building manufacturing mills of shrimp and fish breeding, chicken meat and frozen warehouses in Vietnam. Charoen Pokpland Group plans to double their business in Vietnam in the next five years.

Meanwhile, leading Thai industrial corporation Siam Cement Group is constructing an oil refining complex in Vietnam and planning to spend at least 100 billion Baht (US$3.3 billion) to expand business in the Southeast Asian market (Asean) in the next five years, in which Vietnam is the investment focus.

The variety of Thailand’s “giants” intensifying investment into Vietnam is an opportunity to ratchet up cooperation between Vietnam and Thailand. – Vietbiz24

Tags: Vietnam Thailand trade

Posted by VBN on Jan 14 2011. Filed under Import-Export, Import-Export turnover. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry