Thai investors explore opportunities in Vietnam’s Gia Lai

The Gia Lai People’s Committee and Becamex VSIP Binh Dinh Industrial Park on Thursday held a conference to meet with Thai businesses and promote investment in the province.

At the event, many Thai enterprises and investors expressed interest in investing in agriculture, industry, aviation, and automotive manufacturing in Gia Lai.

They asked detailed questions about the province’s capacity to provide adequate transport infrastructure, electricity, and water for industrial production.

Additionally, these businesses inquired about the local labor force, including workforce availability and wage levels.

During the meeting, a memorandum of understanding was signed between Becamex and the Federation of Thai Industries.

Becamex VSIP Binh Dinh Industrial Park also signed cooperation agreements with several Thai companies to develop industrial park infrastructure and attract international investment.

Nguyen Tu Cong Hoang, vice-chairman of the Gia Lai People’s Committee, said that Thailand is currently one of Gia Lai’s stable investment partners, with nine active FDI projects totaling over US$100 million in registered capital.

Thai investors mainly focus on trade, services, processing industries, seafood, and logistics, contributing to job creation and local tax revenues.

Hoang emphasized that as the leading economy in ASEAN, Thailand offers significant potential for cooperation with Gia Lai in areas such as logistics, supporting industries, processed agricultural exports, renewable energy, and industrial services linked to industrial parks.

Responding to investors’ concerns, Hoang highlighted Gia Lai’s advantages in road, sea, and air transport infrastructure. 

The province has two major airports and two major expressway systems connecting north–south and east–west regions.

Gia Lai is also preparing to invest in the North–South high-speed railway section project and the Phu My seaport project.

In terms of energy, the province aims to become Vietnam’s hub for clean energy, capitalizing on its vast potential in hydropower, wind, and solar power.

Hoang also affirmed that the province has an abundant, well-trained workforce with more competitive wages compared to other regions, offering favorable conditions for investors entering Gia Lai.

According to the Foreign Investment Agency, since early this year, the total registered capital from Thai investors has exceeded $928 million, surging more than 600 percent year on year.

This reflects growing investor confidence between Thailand and Vietnam, two major economies in ASEAN.

At the event, Becamex Binh Dinh Joint Stock Company broke ground on the Becamex VSIP ready-built factory project covering 4.2 hectares, with a total investment of over VND274 billion ($10.4 million), serving the production needs of small and medium enterprises.

Other projects include a 1.3-hectare worker housing development with an investment of over VND230 billion ($8.7 million), along with green park areas and a water supply pumping station to support production and daily activities within the industrial park.