Vietnamese printing market promising

Thai Consul General in Ho Chi Minh City, Somchai Powcharoen, advised small-and medium-sized enterprises to invest in the printing industry in Vietnam, especially in Ho Chi Minh City.

Mr Somchai recommended this on the grounds that the Government allows foreigners to own 100 percent of capital in the industry.

Bangkok Post quoted Mr Somchai saying that despite little experience the industry has developed strongly in recent times thanks to increasing consumption by the middle class.

Mr Somchai added the Vietnamese advertising industry began growing and the market has great potential because young people’s consumption is on the rise. The country’s economic growth will continue to rise and will reach 5 percent at present and 6-7 percent late this year, he said.

Although Vietnam is encouraging foreign investors in the printing industry Thai investors still face challenges, such as language barriers and office renting.

Mr Somchai said setting up joint ventures with Vietnamese investors will help Thai businesses access consumers and get investment licenses easily. Currently, some Japanese and Singaporean businesses are investing in this industry in Ho Chi Minh City and want to hire Thai people while only two Thai businesses operate in the city.

Thai products are popular in Vietnam thanks to competitive prices. In addition, although Vietnam is able to produce similar products they are keen on Thai ones, Mr Somchai added. – VOV

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