Forum seeks stronger trade and investment ties with OV firms in Thailand | business

Visitors to a Thai goods fair in Vietnam (Photo: VNA)

Hanoi (VNA) – On July 11, a forum on business networking was held in Hanoi Vietnamese Abroad (OVs) in Thailand and the Hanoi region, creating an opportunity to promote partnerships in trade, investment and tourism.

In her opening remarks, Le Thi Thu Hang, assistant to the foreign minister and director of the press and information department of the foreign ministry, said Thailand is Vietnam’s largest trading partner in ASEAN and also Vietnam’s largest export market in the bloc. It ranks ninth among foreign investors in Vietnam, which in turn is Vietnam’s second largest trading partner Thailand in the ASEAN region.

The two countries have vibrant economies and share similarities in consumption habits, products and services, leaving them plenty of room to further promote bilateral trade and cooperation in other areas such as energy, logistics, finance, agriculture and investment.

Additionally, she noted, the role, standing and reputation of the Vietnamese community in Thailand has grown. The size and number of their companies and establishments, as well as the sectors in which they operate, are also growing. The community has contributed not only to the homeland but also to the host country, thus serving as a friendship bridge between Vietnam and Thailand.

Hang reiterated the importance the party and state attach to OVs and expressed hope that OV entrepreneurs in Thailand will consider expanding distribution of Vietnamese goods there and help attract high-quality investment from Thailand to the homeland.

Vietnamese Ambassador to Thailand Phan Chi Thanh said there are about 1,000 OV companies in Thailand, mostly small and medium-sized enterprises, operating in many sectors. Many of them have achieved success, and some have expanded their activities to other countries, including Vietnam.

The leaders of the countries aimed for bilateral trade of USD 25 billion by 2025, up from USD 19.5 billion in 2021. The figure was USD 5 billion in 2022. Therefore, there remains a huge scope for investment and trade relations, and the goal is achievable when local-to-locality and business-to-business connections are encouraged, he said.

At the forum, the Vietnam Association of Small and Medium Enterprises and the Thai-Vietnamese Entrepreneurs Association signed a cooperation agreement. About 20 cooperation agreements have also been signed by the companies from both sides in various industries including apparel, tourism-hospitality and high-tech agriculture.

From July 3rd to 10th, the State Committee of Overseas Vietnamese coordinated with the Embassy of Vietnam in Thailand to organize a program connecting OV entrepreneurs in Thailand with five locations, namely Da Nang, Quang Nam, Kien Giang, Ho Chi- Minh City and Bac Giang. /.

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