The paper quoted Thailand’s economic experts and government officials as saying that Thai investors and business operators should seize the opportunities in the fast-growing economy of Vietnam by regarding the country as a good trading partner rather than a direct competitor.

Industry Minister Suriya Jungrungreangkit said most of the investment was in labour-intensive industries due to low wage costs. Some labour-intensive industries operating in Thailand, and facing higher labour costs, such as textiles and garments, might relocate their facilities to Vietnam to maintain a competitive edge, he said.

The minister said Vietnam could be a production base for Thais in such sectors as infrastructure, consumer products, tourism and property. Vietnam offered more attractive investment incentives than those available in Thailand. Political stability also helps build the confidence of Thai investors in the country, said the minister.

VNA