Govt wants offshore businesses to bring money home

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Vietnam – The government will grant incentives to offshore companies that bring home overseas cash, according to the Ministry of Industry.

Industry Minister Somchai Hanhiran, recently led his team to inspect Thai businesses in Vietnam consisting of the Charoen Pokphand Group (CP), and Amata Corporation Public Company Limited (AMATA) which have built industrial parks in many Vietnamese cities, and Siam Cement Public Company Limited (SCG) which has been in Vietnam for over a decade.

Vietnam has seen an upward trend in its economic growth thanks to several infrastructure development projects and booming exports, on top of its partnership and cooperation with other nations in the Asia-Pacific region.

According to the minister, the Thai government will come up with measures and incentives to encourage Thai companies with offshore subsidiaries to bring money home, a move believed to benefit the Thai economy and streamline the expansion of Thai businesses overseas.