This was confirmed by Thai investors who attended a recent seminar on business and investment opportunities in Bangkok.

Vietnam has an abundant labour force, nearly 70 percent of which is young population, Adviser for Vietnam at Bangkok Bank Wittaya Supatanakul said. He added that Vietnam’s labour cost is lower than that in Thailand and in the future the situation will not change, the official added.

Meanwhile, Executive Director of Thailand ’s wrapping company under the Siam Cement group said his company has poured much investment in Vietnam, and now it has held about 18 percent-share of Vietnam’s wrapping market.

According to the director, his company decided to invest in Vietnam because the country has a large potential for development, especially in the wrapping field.

Last but not least, the friendship relations and cooperation between the two countries is also considered a good factor for the investors to do business in Vietnam.

With 191 projects worth 5.7 billion USD in Vietnam, Thailand now ranks 8th among foreign investors in the country. Two-way trade between the two Southeast Asian nations has firmly increased over last years, and it is expected to reach 10 billion USD by 2010.