Prime Minister Pham Minh Chinh and Prime Minister of Thailand co-chaired the Vietnam - Thailand Business Forum

* Promote economic cooperation according to the Three Connectivity strategy

The Vietnam - Thailand Business Forum 2025 is the first event, concretizing the commitment of the two countries' senior leaders in realizing the Vietnam - Thailand Comprehensive Strategic Partnership, promoting the pillar of Partnership for Sustainable Development, especially in the fields of economy, trade and investment that the two sides have just achieved at the 4th Vietnam - Thailand Joint Cabinet Meeting this morning.

At the forum, leaders of ministries, localities and many business representatives of the two countries were introduced to the potential and investment and business environment of Vietnam and Thailand; and heard about the investment and business capabilities and plans of businesses of the two countries.

Delegates assessed that Vietnam's investment and business environment has been constantly improved, positively evaluated by the international community and investors; many foreign investors have chosen Vietnam as a strategic production center, connecting with global supply chains. In the first 4 months of 2025, realized FDI capital reached over 6.7 billion USD, the highest in the 2020-2025 period, showing that Vietnam continues to be an attractive destination for international investors.

In that context, through historical ups and downs and the efforts of both countries to cultivate and build, especially since the establishment of the Enhanced Strategic Partnership in 2015, the bilateral relationship between the two countries has achieved many proud achievements, becoming a model for regional cooperation, in which economic - trade - investment cooperation continues to be a pillar and a prominent highlight.

Thailand is currently Vietnam's largest trading partner in ASEAN, with two-way trade turnover reaching over 20 billion USD in 2024. Thai investors have invested in 767 projects in Vietnam with a total registered capital of nearly 15 billion USD, ranking 9th out of 150 countries and territories. In return, Vietnam has also invested in 22 projects in Thailand with a total capital of nearly 35 million USD. In addition to the positive results achieved, delegates said that the room and potential for economic - trade - investment cooperation between Vietnam and Thailand is still very large for further development.

Prime Minister Pham Minh Chinh speaks at the Vietnam - Thailand Business Forum 2025. Photo: Duong Giang/VNA

To improve the quality and effectiveness of cooperation between the business communities of the two countries, delegates proposed that Thai businesses, with their experience, resources and reputation, will support Vietnam in accessing shifting investment sources, green and sustainable financial sources such as investment sources for science , technology and innovation; Thai investors continue to support and create conditions for Vietnamese businesses to participate more deeply and substantially in global supply chains.

With the policy of cooperation and selective foreign investment attraction, aiming at quality, efficiency, technology and environmental protection, Vietnam prioritizes attracting investment projects in industries and fields such as: green economy, digital economy, circular economy, knowledge economy; science and technology, innovation; new energy, renewable energy; financial center, green finance; agriculture, high-tech industry; trade, tourism ... These are the fields in which Thai investors have experience and strengths.

Delegates also proposed to strengthen research cooperation in the industrial sector, consolidate supply chains, develop supporting industries, and build a highly skilled workforce for the benefit of both sides in a diverse, transparent, and sustainable manner. Along with that, expand cooperation in new areas such as digital economy, green economy, circular economy, and energy transition. Vietnam, with the goal of achieving net zero emissions by 2050, wishes to learn from Thailand's experience and cooperate with Thailand in developing renewable energy and green technology.

Speaking at the Forum, Thai Prime Minister Paetongtarn Shinawatra said that the two sides need to cooperate more to cope with the unstable global economic and political situation; the two countries' recent establishment of a Comprehensive Strategic Partnership has marked a new era in the relationship, focusing on promoting the economic value chain, making the most of the strength, potential and advantages of each side.

Prime Minister Paetongtarn Shinawatra assessed that Thailand and Vietnam are the largest economies in the Greater Mekong Subregion and are also the main driving forces promoting ASEAN's economic growth.

Reviewing the results of economic, trade and investment cooperation between Thailand and Vietnam in recent times, the Prime Minister assessed that the economies of Thailand and Vietnam are closely linked and many businesses participate in the same value chain, with more than 50% of Thailand-Vietnam trade being imports and exports of raw materials and components to support manufacturing industries serving both domestic consumption and export. Therefore, the economic growth of one country is an opportunity for the other.

Prime Minister of the Kingdom of Thailand Lan Paetongtarn Shinawatra speaks at the Vietnam - Thailand Business Forum 2025. Photo: Duong Giang/VNA

Noting that the two governments have agreed to promote economic cooperation under the Triple Connectivity strategy and this is the main theme, aiming to promote the economies of both countries to develop together, Prime Minister Paetongtarn Shinawatra emphasized the need to connect supply chains in mutually beneficial industries such as petrochemicals, food and electronic components and logistics, including developing human resources in future industries such as AI and semiconductors.

Also according to Prime Minister Paetongtarn Shinawatra, the Northeast region of Thailand with the Central and Southern regions of Vietnam. Through the cooperation of more than 20 partner cities, it will expand opportunities for local businessmen in trade, investment and tourism.

Expressing his delight at the prospect of flights between Vietnam and the northeastern provinces of Thailand opening in the future, the Thai Prime Minister said that this would be the first international flight from an airport in northeastern Thailand and that this would boost people-to-people exchanges and tourism between the two countries.

Emphasizing the pillar of sustainable development connectivity, Prime Minister Paetongtarn Shinawatra said that Thailand and Vietnam will promote cooperation in renewable energy and digital economic transformation; emphasizing that the comprehensive strategic partnership between Thailand and Vietnam is not only limited to between the governments but also includes partnerships between the private sectors of the two countries. In particular, the private sectors of the two countries are the most important partners in promoting specific cooperation and meeting the needs of both sides, bringing the comprehensive strategic partnership between the two countries to progress in a practical direction.

* Important milestones in bilateral relations associated with the Shinawatra family

For his part, Prime Minister Pham Minh Chinh said that the traditional relationship between Vietnam and Thailand has existed for a long time; in particular, President Ho Chi Minh spent many years working in Thailand, and many relics related to President Ho Chi Minh are still preserved in Thailand.

Prime Minister Pham Minh Chinh and Thai Prime Minister Paetongtarn Shinawatra witnessed the signing of memorandums of understanding on the transfer of operating rights and technical service support for 50 Boeing Max aircraft; on strategic partnership in digital banking; and on the development of Dong Nai Industrial Park. Photo: Duong Giang/VNA

Prime Minister Pham Minh Chinh recalled important milestones in the bilateral relationship associated with the Shinawatra family, such as: Thailand is the only country that has a joint Cabinet meeting mechanism with Vietnam, proposed by Thai Prime Minister Thaksin Shinawatra in 2004; is one of the first countries in ASEAN to establish a Strategic Partnership with Vietnam in 2013, under Thai Prime Minister Yingluck Shinawatra; and now, the two countries have upgraded their relationship to a Comprehensive Strategic Partnership during the visit of Prime Minister Paetongtarn Shinawatra.

Emphasizing the important contents of the Comprehensive Strategic Partnership that has just been established between the two countries, the Prime Minister said that in the current context, with complicated, unpredictable developments and many problems that no country can solve alone, Vietnam - Thailand and ASEAN countries must strengthen solidarity, unity in diversity, and enhance cooperation. The two countries have cooperated well, they must cooperate better, more effectively, and bring about more practical results.

According to Prime Minister Pham Minh Chinh, in the recent past, in the context of many difficulties and challenges, Vietnam has still promoted high economic growth; stable macro-economy, controlled inflation, ensured major balances; stable politics and society; consolidated and enhanced national defense and security; promoted foreign affairs and international integration; given attention to culture and society, and ensured social security. Many prestigious international organizations and experts continue to highly appreciate the results and prospects of Vietnam's economy.

2025 is the year Vietnam will "accelerate, break through, and reach the finish line" to successfully complete socio-economic development goals, entering a new era - the era of national growth, prosperity, civilization, and prosperity. In that spirit, Vietnam sets a GDP growth target of at least 8% in 2025 and strives to achieve double-digit growth in the 2026-2030 period.

Vietnam is determined to successfully carry out the revolution of streamlining the organizational apparatus, focusing on removing bottlenecks and bottlenecks in institutions, human resources and infrastructure, creating a favorable environment for production, investment and business, creating breakthroughs in science and technology development, innovation and national digital transformation; developing the private economy as the most important driving force of the national economy; promoting international integration in the new context; and innovating more strongly in law making and enforcement.

Prime Minister Pham Minh Chinh and Prime Minister of the Kingdom of Thailand Lan Paetongtarn Shinawatra with businesses of the two countries. Photo: Duong Giang/VNA

In particular, to continue efforts to further improve the investment and business environment in the coming time, Vietnam is focusing on drastically and synchronously implementing many groups of solutions in the spirit of 3 principles: "open institutions, smooth infrastructure, smart governance". The Vietnamese National Assembly is preparing to issue 2 very important Resolutions on building, enforcing laws and developing the private economy to implement the Resolutions of the Politburo.

At the same time, reorganize administrative units in the direction of eliminating unnecessary intermediate levels, ensuring the smooth operation of the apparatus; perfect regulations on apparatus organization, promote decentralization and delegation of power in the direction of streamlining, compactness, strength, efficiency, effectiveness and efficiency; strongly shift from passive to proactive state of serving people and businesses. Continue to promote the reduction and simplification of administrative procedures and business regulations for enterprises and foreign investors.

At the same time, promote seamless infrastructure connectivity between provinces and regions, national and international connections in a synchronous and modern direction, including expressway systems, high-speed railways, airports, seaports, etc.; energy infrastructure; synchronous and modern digital infrastructure. Promote human resource training, especially high-quality human resources, and innovate smart management thinking.

The Head of the Vietnamese Government highly appreciated and sincerely thanked Thai enterprises for their practical and effective contributions to Vietnam's development and the friendly relations between the two countries; said that Vietnam is continuing to actively resolve difficulties and problems of Thai enterprises related to taxes, electricity, digital payments, administrative procedures, and capital sources.

The Prime Minister asked Thai businesses to continue to trust and stick with Vietnam in the development process; with the spirit of “saying is doing, committing is doing; valuing time, intelligence and timely decisiveness”, constantly contributing to the prosperous development of the two countries as well as the Vietnam - Thailand Comprehensive Strategic Partnership.

The Prime Minister stated that the Vietnamese Government ensures the legitimate and legal rights and interests of investors; ensures political stability, social order and safety, institutions, mechanisms and policies to attract investment; promotes "3 together" including: Listening and understanding between enterprises, the State and the people; sharing vision and action to cooperate and support each other for rapid and sustainable development; working together, winning together, developing together; sharing joy, happiness and pride.

Also at the Forum, businesses from the two countries exchanged cooperation documents, including: FPT Corporation and Sunline Technology Corporation exchanged a Memorandum of Understanding on strategic partnership in the field of digital banking, aiming to promote digital transformation of the Thai financial and retail sectors, focusing on core banking solutions, digital banking and digital lending. Vietnam Rubber Group and Amata Group exchanged a Memorandum of Understanding on the development of Dong Nai Industrial Park.

Thai businesses attend the Vietnam - Thailand Business Forum 2025. Photo: Duong Giang/VNA

Vietjet and Boeing signed a cooperation agreement with Vietjet Thailand on transferring the right to operate 50 Boeing 737 aircraft in Thailand, among 200 aircraft Vietjet ordered from Boeing; helping Vietjet Thailand strongly expand its domestic and international flight network, especially connecting destinations between Vietnam and Thailand; contributing to the development of tourism economy connecting Thailand and Vietnam as well as other countries in the region.

According to Tin Tuc Newspaper (Vietnam News Agency)

Source: https://baophapluat.vn/thu-tuong-pham-minh-chinh-va-thu-tuong-thai-lan-dong-chu-tri-dien-dan-doanh-nghiep-viet-nam-thai-lan-post548711.html