Vietnam, Thailand strengthen business connectivity
Vietnam welcomes Thai enterprises and creates optimal conditions for them to invest in the areas of Thailand’s strengths and Vietnam’s potential, Vice President Vo Thi Anh Xuan affirmed on June 23.
The signing ceremony of a MoU at the forum (Photo: VNA)
Bangkok (VNA) – Vietnam welcomes Thaienterprises and creates optimal conditions for them to invest in the areas of Thailand’s strengths and Vietnam’s potential, Vice President Vo Thi AnhXuan affirmed on June 23.
Addressing the Vietnam-Thailand Business Forum inBangkok, Xuan stressed that Thailand ranks ninth out of the 139 countries andterritories worldwide investing in Vietnam, and second in the Association ofSoutheast Asian Nations (ASEAN) after Singapore.
Thailand is also Vietnam’s biggest trade partner inASEAN, with two-way trade reaching 18.8 billion USD last year, up 18%year-on-year, she said, noting that the two sides are striving to raise thevalue to 25 billion USD by 2025.
Vice President Vo Thi Anh Xuan speaks at the forum. (Photo: VNA)
However, Vietnamese investments in Thailand stillremain modest, with only 17 projects worth 32.8 million USD. Vietnam also runsa trade deficit of more than 6 billion USD with Thailand.
Briefing the participants on Vietnam’s economy, Xuansaid the country prioritises projects using cutting-edge technologies, modernadministration and high added values, promotes sustainable export-import, andseeks to raise its position in the global value chain.
Vietnam always attaches importance to and wishes tofoster its enhanced strategic partnership with Thailand, the Vice Presidentemphasised.
In his remarks, Thai Deputy Prime Miniaster andForeign Minister Don Pramudwinai suggested the two countries promoteconnectivity in value chains, economic platforms and sustainable growthstrategies.
Thai Deputy Prime Miniaster and Foreign Minister Don Pramudwinai speaks at the forum. (Photo: VNA)
Such connectivity will help businesses maximiseopportunities and potential of both Vietnam and Thailand, while consolidatingand enhancing the bilateral strategic cooperation, he added.
Sharing the Thai official’s views, Xuan said apartfrom connectivity in value chains and transport, and links between small- andmedium-sized enterprises, the two countries should enhance the friendshipbetween their peoples, and cultural ties.
On this occasion, the officials witnessed thesigning of a memorandum of understanding between Vietnamese and Thai firms.
Xuan is leading a delegation attend the GlobalSummit of Women 2022 (GSW 2022) in Bangkok under the theme “Women: CreatingOpportunities in the New Reality”./.
Thai Minister of Digital Economy and Society Chaiwut Thanakamanusorn on May 5 affirmed that Thailand wants to cooperate with Vietnam in such fields as information infrastructure, cloud computing, social network management, digital transformation and digital economy.
Acting Permanent Secretary for Foreign Affairs of Thailand Sarun Charoensuwan has suggested Vietnam and his country work together to further promote two-way trade, towards reaching the goal of 25 billion USD by 2025.
Governor of Udon Thani province of Thailand Sayam Sirimongkol expressed his wish for increasing cooperation with Vietnamese localities, particularly in economy and culture, at a meeting with visiting Vietnamese Vice President Vo Thi Anh Xuan on June 22.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
The signing ceremony of a MoU at the forum (Photo: VNA) 
Vice President Vo Thi Anh Xuan speaks at the forum. (Photo: VNA) 
Thai Deputy Prime Miniaster and Foreign Minister Don Pramudwinai speaks at the forum. (Photo: VNA) 
