An automobile assembly factory in Vietnam (Illustrative photo: VNA) Thai Minister ofFinance Arkhom Termpittayapaisith said the global economic recovery after theCOVID-19 pandemic has generated new trade chances, especially in a new marketlike Vietnam which boasts much economic potential with a population of nearly100 million and an annual growth expected at about 7%.
Vietnam is the fourth largest importerof Thai products after the US, China and Japan while ranking 10th among the exporters to Thailand. Bilateral trade surged nearly 20% annually to some20 billion USD at present, from 150 million USD in 1992.
The Vietnamese Government has been stronglyfacilitating free trade and foreign direct investment to turn the country intoa promising destination for foreign investors, he said, noting that Thailandnow stands 8th among the foreign investors in Vietnam.
Given this, Thai entrepreneurs should actively expand partnerships withVietnamese firms, in both trade and investment, the minister added.
Rak Vorrakitpokatorn, President of theExport - Import Bank of Thailand (EXIM Thailand), shared the view that thereare multiple opportunities for Thai entrepreneurs in new markets like Vietnam,which has political and economic ties with many countries in the world.
EXIM Thailand has helped with investments worth over 17.3 billion THB (463million USD) into some sectors in Vietnam such as clean energy, petrochemistry,wholesale, and retail.
Thailand has potential for filling in the gap in supply chains in Vietnam andthe world, he said, pledging that his bank is completely ready to cooperatewith the State and private sectors to assist Thai entrepreneurs to confidently startor expand business in global markets.
He suggested that they could begin inVietnam and stretch their reach to other markets to promote sustainabledevelopment in the region and the world at large./.
VNA
