Saturday, February 24, 2007

Thai Conglomerate CP Group Prefers "Communist" Vietnam to "Sufficiency Theory" Run Thailand


Benefits and challenges exist for Thai firms

Country will be attractive investment magnet; CP to up presence

The Charoen Pokphand Group plans to set up its second manufacturing base for livestock and aquaculture in Vietnam within 10 years, thanks to the country's generous trade and investment sweeteners.

"The company will develop a manufacturing base integrated from farm to finished product in Vietnam, because its government provides many privileges to foreign investors," Sooksunt Jiumjaiswanglerg, president of Charoen Pokphand Vietnam, said yesterday.

Vietnam's recent accessionto the World Trade Organisation (WTO) will also make it one of the world's most attractive investment magnets for foreign investors, he said.

While Vietnam looks forward to the future by embracing capitalism and globalization, Thailand looks to its glorious past by embracing feudal economics and sakdina politics.

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