Thai investors advised to penetrate CLMV market

[webfact]

Thai investors advised to penetrate CLMV market

 

BANGKOK, 22 September 2017 (NNT) – The Board of Investment of Thailand (BOI) has encouraged Thai entrepreneurs to consider expanding their market overseas, particularly to the CLMV countries. 

During a seminar hosted by the Export-Import Bank of Thailand, BOI Secretary-General Hiranya Sujinai pointed out that the CMLV group, comprising Cambodia, Myanmar, Laos and Vietnam, is considered a market with high potential as it enjoys economic growth of around 7-8 percent each year. During the first six months of this year, Thai exports to the CLMV expanded by as much as 13.5 percent. 

Moreover, teenagers and working-age people still make up the majority of the CLMV’s population, meaning sufficient workforce and inexpensive labor. The group is also offering more opportunities and convenience to foreign investors, making it an ideal investment destination. 

However, the BOI Secretary-General stressed the importance of legal knowledge when investing in foreign countries, suggesting that investors work closely with legal consultants to avert problems. Cash being carried in and out of Thailand should also be declared. 

Mr Chanin Vongkusolkit, CEO of Banpu Plc, encouraged any investors who are keen to break into the CLMV to conduct thorough market research beforehand and identify their target industries. To be successful overseas, he also said it is necessary to be aware of investment regulations in the host country and to establish partnerships with local operators.

 

-- nnt 2017-09-22

[inThailand]

encouraged any investors who are keen to break into the CLMV to conduct thorough market research beforehand and identify their target industries.

 

They don't even do this here! Hence, why businesses here fail at an alarming rate.