In order for a new business to enter Thailand, assistance is needed for company formation in Bangkok because it would be hard to do so otherwise. This is why the government of Thailand has promised to aid distributors from Vietnam in order for them to get to know more regarding the markets in Thailand. To do this, Thailand initiated an event called Week of Vietnamese Goods in Thailand which is an expo wherein Central World mall will be hosting.
Nick Reitmeier, Central Food Retail Co., Ltd’s vice executive president said that the event will boast goods from the Vietnamese market. It will be happening between September 18 and 22.
The big reveal was made public during a business meeting held in Ho Chi Minh City where more than 120 companies joined the conference. The participants of the conference were hosted by the Investment & Trade Promotion Center of the city. These are the same companies that support the relationship between Vietnam and Thailand’s government.
Entrepreneurs present during the conference were able to share their knowledge as well as skills when it comes to foreign policies that govern Thai markets. The aim is to help the distributors as they try to penetrate the markets of the nation.
The end goal of the organized expo is for enterprises in both countries to be exposed to Vietnamese products and to be able to adapt a modern approach to business models. The event is said to be beneficial for businesspeople to hone their understanding of the strict rules and regulations of the Thai markets.
A report said that even if Vietnam is to provide quality products, it won’t be easy for them to enter the markets of Thailand unless exporters know how to build their brands by adjusting the needs of the host country.
It is one thing they should tackle prior to company formation in Bangkok because it is bound to fail if they do not know how to build their brand in a foreign country such as Thailand. Officials from both countries are in agreement that exporters need to do more research to be familiar with Thai markets.