return icon Vietnamnet.vn

Thais step by step expanding their business in Vietnam

Thai businessmen have been taking martial steps towards the Vietnamese market, having a presence in many business fields of the national economy, from hotels to tile, plastics manufacturing and retail chains.

VietNamNet Bridge – Thai businessmen have been taking martial steps towards the Vietnamese market, having a presence in many business fields of the national economy, from hotels to tile, plastics manufacturing and retail chains.

According to the Foreign Investment Agency, by the end of the first quarter of 2013, Thailand had ranked the ninth among the biggest countries and territories having made foreign direct investment FDI in Vietnam, with 303 projects worth $6.1 billion.

Melia Hotel, Family Mart retail chain acquired by Thai


{keywords}



Charoen Sirivadhanabhakdi, the third richest Thai billionaire, who owns many big economic groups, including Berli Jucker which operates in the drink manufacturing, can and glass bottle production, retail sector, and TTC Land, has recently made clear steps to penetrate the Vietnamese market.

Through SAS Trading Ltd, TTC Land acquired 65 percent of stakes of the five star hotel Melia in Hanoi. The hotel reportedly got over $20 billion each year in the last three years and $10 million in pretax profit, or the profitability of 50 percent.

TTC Land manages a lot of hotels, offices and properties throughout Asia, Australia, one hotel in Europe and one in the US.

In early 2013, Berli Jucker BJC spent $32 million to buy 65 percent of stakes of Thai An, a retail firm in the north.

BJC has just wrapped up the deal of buying Family Mart, the retail chain. The deal has been made through Thai Corporation International TCI which has the capital contribution from BJC of the Thai billionaire.

After the deal, the convenience stores of Family Mart in the joint venture with Phu Thai have been renamed into B’mart.

Mongkol Banthrarungroj, Managing Director of TCI, said B’mart chain is expected to bring the turnover of bath5 billion at least, or VND3.3 trillion in the next five years. Especially, 70 percent of the products to be displayed at the retail chain would be sourced from Thailand.

Prime Group bought at VND5 trillion

In late 2012, Thai Siam Group, one of the Thai biggest enterprises, operating in the fields of petrochemical, paper, cement, building materials and distribution, bought Vietnamese Prime Group which can churn out 75 million square meters of tile every year, holding 20 percent of the domestic market share.

The deal was worth $280 million, which was believed to be much higher than the market value, thus making the deal completed quickly. After the deal, Siam Group has acquired 85 percent of Prime Group’s stakes.

SCG, considering Vietnam a strategic market, began taking actions to expand its business to Vietnam in 1992. Now it has 17 companies with the total assets of $370 million employing 2,300 Vietnamese workers which can bring the annual turnover of $300 million.

Entering the plastics market

In mid-2012, local newspapers reported that Binh Minh and Tien Phong Plastics Companies, the two leading enterprises in the field, both sold their stakes to Thai Plastic and Chemicals.

The Thai big guy bought 9.82 million of Tien Phong and 5.85 million of Binh Minh stakes to hold 22.7 percent and 16.7 percent of stakes, respectively, of the enterprises.

Analysts have warned that the Thai manufacturer would, through the distribution networks of Tien Phong and Binh Minh, bring its products to Vietnam. After that, with its powerful financial capability, would collect more stakes to acquire the right to control the enterprises.

Nhi Anh

MORE NEWS

Sli singing - the soul of Nung ethnic minority people

Sli is a unique folk singing style of the Nung ethnic minority people in Vietnam’s northern region, which is performed as a call and response between young men and women.

Vietnam spends US$9 billion importing oil, petrol products in 2022

South Korea was the largest petroleum supplier of Vietnam, with 3.22 million tons, up 96% year on year.

Vietnam named among top food destinations by Gordon Ramsay

Vietnam's rich cuisine has made it a favorite culinary destination not only for Michelin-starred chef Gordon Ramsay but also for food lovers worldwide.

Hang Sao- a unique cave pagoda in Yen Bai

Hang Sao is one of the beautiful and sacred pagodas in Yen Bai, believed to be discovered in the reign of the sixth Hung King.

Vietnam has great opportunity to be a global production base

Vietnam is becoming a destination for global manufacturers, an opportunity that needs to be taken full advantage of.

Lai Chau ginseng: a hidden national treasure

Ethnic people in Lai Chau province have long used locally-grown ginseng to improve their health.

Late artist Nguyen Tu Nghiem’s works on display in rare exhibition

This rare opportunity for art lovers to see the artist’s works is being held to honour his career, which spanned over 70 years in the 20th and 21st centuries.

Authorities to boost implementation of OV-related tasks: official

Efforts will be accelerated in 2023 to implement tasks relevant to overseas Vietnamese (OV) affairs, said Deputy Foreign Minister and Chairman of the State Committee for OV Affairs Pham Quang Hieu.

Censorship council under pressure when approving films related to private life

Director of the Cinema Department Vi Kien Thanh said the censorship council bears increasing responsibility, especially when censoring films related to private lives.

Young VN talent awarded 2023 Clay Research Fellowships

Pham Tuan Huy, 27, has become only the second Vietnamese talent to receive an award from the Clay Mathematics Institute (CMI) which gives out various prizes and sponsorships to promising mathematicians from around the world.

AFC praises Park Hang-seo’s “lasting legacy” in Vietnamese football

The Asian Football Confederation (AFC) has published an article titled “Park Hang-seo: A lasting legacy”, to honour the Korean coach after his magical five year journey with the Vietnamese men’s football team.

Discovering pig slaughtering festival in Vietnam

A traditional pig slaughtering festival got underway in Nem Thuong village of Bac Ninh city, northern Vietnam, on January 27 as part of activities to celebrate the new-year period.

Prague Airport wants to open direct air routes to Vietnam

Prague Airport in the Czech Republic is planning to launch new direct air routes to North America and Asia, including Chicago (US) and Vietnam.

Mural village woos more visitors to Quang Binh

The coastal village of Canh Duong in Quang Trach district, central Quang Binh province, is known for its breathtaking natural scenery. But now, the 400-year-old village attracts visitors with its beautiful and unique murals.

Intertwined opportunities, challenges for Vietnam’s economy in 2023

With certain headwinds predicted for the global economy in 2023, Vietnam too, faces considerable challenges. But opportunities are also significant if concerted and appropriate solutions are taken, an expert has said.
back_to_top