VIETNAM, July 10 –
HCM CITY – One of the forums heard that the potential to enhance trade and investment relations between Thailand and HCM City is huge because the economic ties between the two countries are expanding rapidly.
Speaking at the City of Thailand-HCM Business Connection Forum on Friday, Fu Von Huan, deputy head of the city’s People’s Committee, said the city has been one of Thailand’s leading investment partners for years.
Investors from Thailand have invested more than $482 million in 235 projects as of last year, making Thailand the city’s 12th largest foreign direct investment partner among 116 countries and regions.
Most of Thailand’s projects in the city were in the chemical, food, building materials, tourism, warehousing and logistics industries.
Last year, trade between Thailand and HCM was worth more than $2.8 billion.
Viet Nam’s ambassador to Thailand, Phan Chi Thanh, said the Vietnamese overseas business community plays a vital role in the trade and investment relations between the two countries.
He said there are about 1,000 ethnic Vietnamese-owned businesses in Thailand, most of which are small or medium-sized and in a wide range of sectors.
He said many of them have expanded their business in Viet Nam, but their number is modest compared to Thai-owned businesses investing in the country.
He said a distribution network for high-quality products from Viet Nam should be established in Thailand and reciprocity in HCM.
Hồ Văn Lâm, President of Thailand-Viet Nam Businessmen Association, said that trade, investment and tourism promotion events should be organized regularly in Thailand to promote trade and investment exchange with Vietnamese and Thai companies abroad.
Nguyen von Minh, an expatriate Vietnamese businessman based in Bangkok, said Thai products are increasingly being consumed in Viet Nam but the opposite is not true.
He said the overseas Vietnamese business community is a good channel to help expand the distribution of Vietnamese goods in Thailand.
He added that Thai companies are seeking long-term cooperation with companies in HCM in areas such as high-tech agriculture, digital transformation, education and tourism.
Thailand has risen to become Việt Nam’s largest trading partner in ASEAN and the ninth largest foreign investor in Việt Nam with over 600 projects with higher value. R13 billion dollars.
Trade between the two countries reached $5 billion in the first quarter of this year, and they plan to increase it to $25 billion by 2025. – VNS