Thai delegation shows interest in boosting investment in Danang

20:11 | 17/03/2018

On the morning of March 16, the Danang Investment Promotion Agency (IPA) organised the “Thailand-Danang Business and Investment Opportunities” seminar on the occasion of a Thai delegation’s visit.

thai delegation shows interest in boosting investment in danang
Over 34 Thai investors take part in the seminar titled “Thailand – Danang Business and Investment Opportunities”

The seminar welcomed the delegation of leaders of the Thai Listed Companies Association (TLCA) and representatives of leading Thai businesses, as well as offered investment opportunities for Thai firms and sought to boost trade between Vietnamese and Thai businesses.

In front of more than 34 Thai investors, Nguyen Ky Anh, deputy director of Danang IPA, presented a general introduction about the outstanding achievements of the city throughout 21 years of development. “Despite having quite a modest land area with a total population of more than one million, the city has achieved significant results in socioeconomic development, proving its role as the hub of the central and the Central Highlands regions,” Anh emphasised.

This is why investment promotion of Danang has posted amazing achievement by magnetising a number of countries, including Singapore, South Korea, the US, and Japan.

thai delegation shows interest in boosting investment in danang
Pensri Suteerasam, chairwoman of TLCA
There are now around 600 members in TLCA hailing from Thai banks, financial institutes, and tourism companies, among others. These participants have joined the Excutive Development Programme, which have taken them to three countries with long-lasting relations, including Cambodia, Myanmar, and Vietnam. Vietnam is considered the most popular destination among the TLCA members.

Speaking of Thailand-Danang business opportunities, Anh assumed that even though they have built a firm and close relation, the number of Thai enterprises in Danang and Thai FDI to the central city are not really impressive, with only six Thai enterprises investing $21 million.

The imports of Thai products into Danang are high, but exports of Danang’s products to Thailand remain quite low.

“However, the number of Thai tourists to the city via airways and roadways has increased considerably,” Anh added.

He also highlighted six key advantages that helped the city to become an outstanding investment destination, including its strategic position on the East-West Economic Corridor, at the hub of the Southeast Asian region, as well as Danang International Airport with direct flights to Japan, South Korea, and many other places.

Additionally, the city offers developed infrastructure, six operating economic zones, and three more soon to be under construction, and especially, one high-tech park which offers considerable incentives for investors.

During the discussions, the Thai delegation raised a number of questions about the investment policies and environment in Vietnam, showing great interest.

Anh also shared the vision for the next five years in Danang, which is to build an environmentally friendly tourism city, aiming to attract investment into the sectors of high-technology, tourism development, and resort property. High-tech agriculture is also considered a spearhead economic sector, and the city is calling for more investment in the area, too.

At the same time, Thai representatives working in banking and tourism showed interest in incentives for foreign investors, and investment in building hotel branches of Minor Hotel Group in the city after its entry in Hoi An, Haiphong, and Mui Ne.

Phuong Linh

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