Business

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.
Vietnam, Thailand strengthen business connectivity ảnh 1The 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.
Vietnam, Thailand strengthen business connectivity ảnh 2Vice 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.
Vietnam, Thailand strengthen business connectivity ảnh 3Thai 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”./.
VNA
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