Thailand, central Vietnam explore investment opportunities
Vietnam and Thailand have been implementing action plans as part of the enhanced strategic partnership between the two countries, with a target of boosting bilateral trade turnover to US$25 billion.
Vice Minister of Foreign Affairs Nguyen Minh Hang stated at the opening ceremony of the Meet Thailand conference in the central city that the two countries have strengthened connections in the supply chain and business exchanges as well as development policy links between Vietnam ’s ‘Green’ Growth and Thailand’s Bio-Circular-Green Economy.
“The Meet Thailand conference in Da Nang is a positive move after two successful Meet Thailand events in the northern Lao Cai Province and central Quang Tri province. It aims to exchange opportunities between the two countries while promoting cooperation among ministries, industries, localities and businesses in Vietnam and Thailand,” Hang said.
“The event will offer initiatives in clearing barriers to cooperation and development links between the two countries,” she said.
Hang said Da Nang is a key gateway to the Asia Pacific and the East-West Economic Corridors connecting Thailand, Myanmar, Laos and Vietnam with good investment infrastructure.
Head of the Royal Thai Consulate General in HCM City Wiraka Moodhitaporn said the event would build links in support industries' supply chains between the two countries, local economies and small to medium-sized enterprises as well as strategic sustainable connections.
“Thailand has remained as Vietnam's largest trading partner in ASEAN, and ninth in the list of foreign investors in the country. Thai businesses have been building brands of quality, with responsible investors, community support and corporate social responsibility policies in every investment destination in Vietnam,” Wiraka Moodhitaporn said.
“Thai businesses provide community support programmes and scholarships for localities in Vietnam . Thailand, in cooperation with Da Nang University, officially opened a Thai language course of study in 2006,” she said.
She noted that universities in Thailand will welcome students from Da Nang to their international educational programmes.
Wiraka Moodhitaporn also said that Thailand and Vietnamese localities could promote cooperation in sustainable tourism and hi-tech agriculture.
Vice chairman of Ca Mau province, Nguyen Minh Luan, shared that the Mekong Delta provinces in Vietnam could build up a popular tourism service – 'One Road with three destinations' – with the northeast region of Thailand.
He said Ca Mau and Thailand could join hands in eco-tours, especially considering the available waterway conditions and sea-based economic development.
Nguyen Thi Hoang, vice chairman of Dong Nai Province, said Thai investors have spent US$1.3 billion on 42 projects, or 3.7 % of the province's total foreign direct investment (FDI) capital.
She said Amata Corporation Public Company was one of the first investors from Thailand in the province, starting in 1994.
According to Hoang, Dong Nai has been developing a port system, while the Long Thanh International Airport project will soon begin construction.
Pham Van Trong, vice chairman of Tien Giang Province, proposed that Thai partners and Tien Giang businesses could cooperate in hi-tech agriculture and fruit exports while sharing solutions for saline intrusion and erosion prevention.
Pornchai Saibuangam, general director of Thai Viet Corporation, a livestock farm business, said the company has invested in Vietnam's Quang Nam Province.
He said the company could benefit from the competitive input cost of production and labour in Vietnam.
“We are aware of environmental protection and business responsibilities to the local community in production,” Pornchai Saibuangam shared.
Paranyu Vitanakorn, accounting and finance director of Hi-tech Apparel company, said the firm has built 13 plants in Asia, including one in Quang Nam, for garment production.
He said the company has also expanded its production lines in Quảng Nam due to good business conditions, especially the cost of labour.
“[The] airport and seaport system is available as well as favourable logistics services for exports. We can find raw material for manufacture locally rather than importing it,” Paranyu Vitanakorn said.
Da Nang and Khon Kaen, Thailand signed a Memorandum of Understanding in tourism and investment in 2022.
Meanwhile, national flag carrier Vietnam Airlines has launched a direct Da Nang-Bangkok route.
Viet Nam News
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