Vietnamese Ambassador to Thailand, Nguyen Duy Hung, gave a presentation on overseas investment in Vietnam. Over the past 10 months, foreign direct investment (FDI) in Vietnam reached US$59.3 billion, tripled last year’s figure. A stable political situation and industrious workers are factors attracting foreign investors. Besides Thailand, many other countries such as the US, Japan, the Republic of Korea, and the EU are investing extensively in Vietnam.

Regarding Thai investment in Vietnam, Mr Hung said that Thailand is not only a strategic but also important economic partner of Vietnam. Currently, Thailand ranks 8 out of 80 countries and territories investing in Vietnam with 191 projects worth US$5.7 billion. Two-way trade turnover is increasing rapidly and is expected to reach US$10 billion by 2010.

The seminar also helped Thai businesses get an overview of foreign investment in southern Binh Duong province.

Tran Van Lieu, head of the management board of Binh Duong industrial zones (IZs) said that the province currently has 27 IZs with a total area of 8,000ha. It has so far attracted more than 1,800 FDI projects capitalised at US$10.7 billion from 36 countries and territories, including 18 Thai projects worth US$270 million. Many Thai companies have been operating in Binh Duong for ten years and plan to expand their investment.

The seminar gathered 200 Thai and foreign companies specialising in agriculture, garments, hotels and training, who have not yet invested in Vietnam. They are planning to invest in Vietnam thanks to cheaper prices here.