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Vietnam, Thailand seek to beef up trade-investment ties

A conference to promote trade and investment ties between Vietnam and Thailand took place in Bangkok on December 14, as part of activities marking 40 years of diplomatic relations.
Vietnam, Thailand seek to beef up trade-investment ties ảnh 1Illustrative image (Source: VNA)

Bangkok (VNA) – A conference to promotetrade and investment ties between Vietnam and Thailand took place in Bangkok onDecember 14, as part of activities marking 40 years of diplomatic relations.

The event drew the attendance of officials andbusinessmen from both countries. The Red River Delta province of Hung Yen and theMekong Delta city of Can Tho took this occasion to introduce their businessclimate and attract investment.

Participants discussed the Vietnam-Thailand strategicpartnership, policies and projects available for foreign investors in Vietnam,as well as Thai import-export supporting policies.

Having highlighted cultural similarities and closegeographical locations between the two countries, the participants noted thatthe flow of Thai investment in Vietnam is much larger than the amount ofVietnamese investment in Thailand.

By the end of July 2016, Thailand has been the 10th biggest foreign investor in Vietnam with 466 valid projects worth almost 9.5billion USD. Thai projects have been present in 41 out of 63 Vietnameseprovinces and cities, mostly in the sectors of processing, manufacturing,retails, construction and services.

Meanwhile, Vietnam has 10 projects in Thailand valuedat 25.8 million USD, ranking 22nd out of 55 countries andterritories investing in the country.

The participants stressed the need for more diplomatic-economicactivities, trade and investment promotion events and market surveys that willencourage the formation of partnerships.

They pointed to some potential sectors forcooperation, including garment-textiles, cosmetics, foodstuff and machinery.

Vietnam-Thailand trade value increased to 11.5 billionUSD in 2015 from 5.8 billion USD in 2009.

The figure hit almost 10 billion USD by the end ofOctober 2016 and is expected to reach 20 billion USD by 2020.-VNA
VNA
#Vietnam-Thailand ties #trade promotion Thailand
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