Hanoi (VNA) — Vietnam continues to stand out as an attractive destination for Thai enterprises, particularly in industry, retail and consumer goods, high-tech agriculture, green exports, renewable energy, infrastructure, logistics and e-commerce, according to officials and business representatives at a recent bilateral dialogue.
The assessment was highlighted by Vietnamese Consul General in Khon Kaen, Thailand, Dinh Hoang Linh at the dialogue themed “Towards a sustainable future for Vietnam–Thailand trade cooperation,” held on March 17, at Khon Kaen University.
The event, jointly organised by the Consulate General of Vietnam in Khon Kaen and the university, was part of activities marking the 50th anniversary of diplomatic relations between Vietnam and Thailand (August 6, 1976 – August 6, 2026). It brought together leaders of Thai business associations, representatives of local authorities, and a large number of students and academics.
Speaking at the event, Consul General Linh noted that Vietnam is entering a new development phase following the success of the 14th National Party Congress, which has outlined a long-term vision for the country’s socio-economic development. Under this vision, Vietnam aims to become a developing country with modern industry and upper middle-income status by 2030, with GDP per capita projected at around 8,500 USD, and to achieve developed, high-income status by 2045.
To realise these goals, Vietnam is targeting annual economic growth of over 10% during the 2026–2030 period. The country has identified science and technology, innovation, and national digital transformation as key drivers of growth, while reaffirming the crucial role of the private sector. At the same time, Vietnam has prioritised institutional reform, infrastructure development, and human resources to strengthen competitiveness in the global economy.
According to statistics from Vietnam Customs, bilateral trade between Vietnam and Thailand reached 22.1 billion USD in 2025, an increase of 8.3% compared to 2024, and accounting for 24% of Vietnam’s total trade with ASEAN. Thailand remains Vietnam’s largest trading partner within the bloc, and both countries are working towards raising bilateral trade turnover to 25 billion USD in the near future.
In terms of investment, Thailand had 789 valid projects in Vietnam with a total registered capital of 15.2 billion USD as of November 2025, ranking eighth among foreign investors in the country. This reflects growing confidence among Thai businesses in Vietnam’s investment environment and long-term prospects.
The Vietnamese diplomat also offered several recommendations for Thai enterprises seeking to expand operations in Vietnam. These include conducting thorough market research, taking advantage of corporate income tax incentives, and leveraging Vietnam’s network of free trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU–Vietnam Free Trade Agreement (EVFTA), to access broader markets. Strengthening partnerships with local businesses and adopting long-term investment strategies were also emphasised as key factors for success.
Data from Thailand’s Department of International Trade Promotion indicates that Vietnam’s consumer market has reached a new level after years of sustained expansion. In early 2026, retail sales of goods increased by 8%, while the services sector expanded by 20.2%, reflecting rising incomes and increasingly diversified consumer demand, particularly for higher value-added services.
The accommodation and food services sector recorded growth of 14.6%, supported by strong recovery of international tourism and improvements in household income. Consumption patterns are gradually shifting from necessities to experiences and quality-of-life services, creating new opportunities for businesses in sectors such as hospitality, entertainment, and lifestyle services.
E-commerce has also emerged as a major growth driver in Vietnam’s economy. The market is estimated at 32 billion USD, accounting for 12% of total retail and service revenue nationwide. With an average annual growth rate exceeding 20%, Vietnam is among the fastest-growing e-commerce markets in Southeast Asia, offering significant potential for Thai companies looking to expand their digital presence.
The Consulate General of Vietnam in Thailand reaffirmed its commitment to supporting businesses from both countries through economic diplomacy initiatives. These include trade fairs, business forums, and specialised dialogue programmes aimed at enhancing connectivity and facilitating partnerships between Vietnamese and Thai enterprises.
On this occasion, Consul General Linh also shared key highlights of the 14th National Party Congress with Thai media, emphasising that strategic autonomy remains a guiding principle in Vietnam’s development. This approach reflects the country’s confidence, proactive integration and responsible engagement in a global context.
