Kobsak Pootrakool, executive vice president of Bangkok Bank, told a "Thailand Focus" seminar yesterday that Thai companies should realise the obvious business opportunities in CLMV countries resulting from their strong economic growth. The four countries also show growing demand for consumer products, services, and investment in infrastructure, and the time to get in the game is now.

The seminar was arranged by the Stock Exchange of Thailand, Phatra Securities and Bank of America Merrill Lynch.

"There are many opportunities in the CLMV region, and someone told me that if you go into these countries and you do not smell opportunities, you are not a businessman. When the average economic growth rate of these countries is around 7-8 per cent, that means incomes are also rising," Kobsak said.

Tanawong Areeratchakul, vice president of Siam Cement, said CLMV was appealing in terms of its labour force, with more than 40 million young and energetic workers. These four countries have opened up for business, accompanied by supportive government policies along with the geographical advantage of being situated near fast-growing economies like China and India. These factors make CLMV's future brighter than ever.

Kobsak noted that 20 per cent of Thailand's exports went to CLMV countries. Home construction is on the rise, which means there are business opportunities that range from infrastructure such as seaports and roads, to the energy sector, to real estate, banking, shopping malls, cinemas, and the food and beauty industries.

He said that if Thai companies did not grab these opportunities now, five years from now would be too late. There is growing competition from companies in other Asian economies such as China, which has been investing in CLMV for years, while firms from Japan and South Korea are also eyeing this region.

Tanawong said Chinese businesses had the advantage of government support, which made it easier for them to do business, so the Thai government should also set up system that could be used to assist Thai investors.

Kobsak said that while many Thai companies were going out on their own, he believed that the Board of Investment could easily take on this supportive role and set up an agency to provide information for companies seeking to expand into other countries.

Meanwhile the SET, which hosted a second meeting with four other stock exchanges in the Greater Mekong Subregion - from Cambodia, Hanoi, Ho Chi Minh City and Laos - said yesterday that the Thai bourse continued to tighten collaboration with the GMS exchanges. It had created an information centre on the SET website, and there was talk of possible dual or cross-listings among the exchanges in the future.

The chief executive officers of the Hanoi and Ho Chi Minh bourses, Tran Van Dzung and Phan Thi Tuong Tam, have also confirmed that the two stock exchanges could soon be merging, as the Vietnamese government is considering the option. It could take place as soon as next year.

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'Act fast before competing nations grab opportunities in CLMV'