Thai firm expands production in Vietnam

Tostem Thai is among the first Thai companies to relocate its assembly lines to Vietnam in a bid to grasp opportunities to be brought by the ASEAN Economic Community (AEC) once it is formed at the end of the year.

The aluminium producer, established in 1923, had served as an original equipment manufacturer (OEM) for its clients in Vietnam for years before its factory was put into operation in Ho Chi Minh City in October last year. 

With the facility, Tostem Thai expects to serve demands in both Vietnamese and regional markets, especially with positive signs in the local sector, said General Director Apirak Chotsasitorn. 

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Illustrative image. (Photo: Internet)

Vietnam’s aluminium industry is entering a new phase of growth as the Government maintains its open foreign policy, he noted, adding that this will boost foreign investors’ confidence but they still hope for more support on taxes for domestic sales. 

With its long-term development strategy in Vietnam, he said the company aims to sales in the nation from 10% to 50%. 

To reach this goal, Tostem Thai has launched a number of marketing campaigns and production expansion programmes. Most recently, it took part in Melatex Vietnam 2015.