Hanoi (VNA) – The Vietnam Trade Office in Thailand along with the Thailand Board of Investment (BOI) and the Federation of Thai Industry held a workshop in Bangkok on October 6 to encourage Thai businesses to inves🦹t in the supporting industry in Vietnam.
Chokdee Kaewsang, Deputy Secretary General of the BOI, said Thailand has over 20 years of developing the supporting industry – which is a foundation for such key sectors as automobile manufacturing, electronic equipment and machinery to grow and improve competitiveness of industrial products.
Growing the supporting industry will help draw in foreign investment, he said, highlighting skilled human resources and the government’s tax incentives and supportive measures as important factors to develop the field.
Commenting on investment opportunities in Vietnam, he said Vietnam is a potential market with geographical advantages, high and stable economic growth, and open investment attraction policies.
Particularly, Vietnam’s strong integration in the regional and global economies via a series of free trade agreements will be a magnet for overseas firms, including those from Thailand, he stressed.
He spoke of the Vietnamese government’s efforts over the past time to develop the supporting industry via preferential policies and specific development orientations.
According to Vietnam’s Ministry of Planning and Investment, as of June 2016, Thailand ran 466 projects in Vietnam with a total investment capital of 9.44 billion USD, ranking 10th out of the 116 countries and territories investing in Vietnam.
The average capital of a Thai project is around 20.26 million USD, 14 million USD higher than that of a foreign-invested project in Vietnam. Thai business🔯es pumped big investment into the supporting industry in Vietnam.-VNA
The time-tested amity and all-round cooperation throughout history of Vietnam and Thailand will help the two become good partners in the ASEAN community.
Despite ups and down, the relationship between Vietnam and Thailand has progressed over the past 40 years with strongly developing people-to-people exchanges.
Deputy Prime Minister and Foreign Minister Pham Binh Minh hosted a reception for former Thai Deputy Prime Minister and Foreign Minister Bhichai Rattakul in Hanoi on August 9.
Vietnam and Thailand should make the most of the free trade agreements (FTAs) they have joined to further enhance their trade links, Deputy Minister of Industry and Trade Nguyen Cam Tu stressed.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
An automobile assembling factory (Source: VNA)
