Thailand's largest distributor of consumer products Saha Group is working with a Japanese company to establish a joint venture in Vietnam, Bangkok Post reported on Monday.
It is not clear about which sector the joint venture will operate in, but an executive with the conglomerate, now running a distribution subsidiary in Vietnam, was quoted as saying that it is interested in logistics, property, and wholesale.
The expansion plan has been apparently prompted by upcoming changes brought by the ASEAN Economic Community, which will be officially formed this year end.
"The regional community will make crossborder logistics more important," according to the unnamed executive, who also stressed Saha's interest in expanding its property business here in the long term.
Saha started venturing in property a few years ago, and has developed housing projects around Thailand in collaboration with local and Japanese partners, Bangkok Post reported.
It will continue to expand more businesses abroad, particularly to ASEAN members, Saha chairman Boonsithi Chokwatana was quoted as saying.
The group recently opened a garment factory in Myanmar to serve both the domestic market and exports to Thailand, according to the news report.