Vietnam and Thailand are each other’s key trade partners and they have great potential for strengthening their trade ties.
The view was shared by Vietnamese and Thai economic experts and businesses at a joint forum in Bangkok on November 27 to introduce investment opportunities in Vietnam’s central region.
Vietnamese ambassador to Thailand Ngo Duc Thang revealed two-way trade turnover between Vietnam and Thailand reached US$7.8 billion between January-October 2013, up 15% compared to the same period last year.
Since the two countries entered into a strategic partnership in June 2013 they have achieved significantly better economic results and improved trade and investment cooperation.
Thailand currently ranks ninth among foreign investors in Vietnam, 324 valid projects valued at approximately US$6.5 billion.
Thang acknowledged in recent times, Thai businesses have cooperated effectively with their Vietnamese partners in the central region, reaping practical benefits for both sides.
“The forum is the first step towards closer ties between localities and businesses in the central region of Vietnam and Thai localities, investors and businesses,” he said. “It is essential that trade promotion activities and fact-finding tours are conducted in the future to further promote cooperative ties.”
The forum gave Vietnam Trade Counselor Nguyen Thanh Hai, representatives from the Ministry of Planning and Investment (MPI), and leaders of Quang Nam, Quang Ngai and Quang Tri the opportunity to introduce economic development and potential investment environments in central Vietnam.
Trinh Minh Van, Director of the Investment Promotion Agency in the central region under the MPI, concurred that the information disseminated at the event will prove extremely useful for businesses from both countries.
“The exchange is expected to help deepen Thai businesses’ understanding of the current investment environment and encourage them to further invest in Vietnam,” he said.
He expressed his hope that bilateral investment, trade and tourism cooperation will continue to grow and flourish in the future.
Chokedee Kaewsang, Vice Secretary General of the Board of Investment (BoI) of Thailand, affirmed Vietnam, the central region in particular, is an attractive destination for investment due to its rapid economic growth and abundant natural resources.
The Thai Government encourages its businesses to invest in Vietnam, he said.
Companies from both countries shared information and examined ways to establish partnerships at the forum.