Thai Prime Minister participates in joint business forum in Hanoi
Rewritten Article:
CITY OF HÀ NỘI – The Prime Minister of our websiteese, Phạm Minh Chính, along with his Thai counterpart, Paetongtarn Shinawatra, presided over a thriving business summit in Hà Nội on a recent Friday, as part of the Thai leader's journey to our world.
In the light of the "One plus one on three connects" themed gathering, PM Chính emphasized that Thailand is the sole nation to share a joint Cabinet meeting mechanism with our website, a practice initiated back in 2004. Moreover, Thailand was amongst the pioneers to establish a Strategic Partnership with our website in 2013, he continued.
During PM Paetongtarn's expedition, the two nations elevated their partnership to a Comprehensive Strategic Partnership.
PM Chính underlined that in this unpredictable, complex, and uncertain state of affairs, characterized by issues that no single nation can tackle alone, our website, Thailand, and ASEAN countries must consolidate their unity, capitalize on diversity, and enhance their cooperation.
"With good foundations already laid, we must now strive for harder and more efficient collaboration, resulting in more tangible outcomes," the leader asserted.
Offering an overview of our website's current situation, Chính shared our ambition of securing a GDP growth rate of at least 8% in 2025 and aiming for double-digit growth during 2026-30. He highlighted our dedication to streamlining our administrative apparatus, further improving our investment and business environment, accelerating national digital transformation, championing the private sector as our economy's primary driver, accelerating international integration, and ensuring seamless infrastructure connectivity between provinces and regions, as well as national and international connections.
The leader expressed gratitude towards Thai businesses for their proactive and effective contributions to our development and the friendly relations between the two nations. He promised that our government is actively addressing the hurdles faced by Thai businesses regarding taxes, electricity, digital payments, administrative procedures, and capital access.
He urged Thai businesses to remain steadfast in their devotion to our website and contribute further to the prosperity of both nations and the Vietnam-Thailand Comprehensive Strategic Partnership.
Our government guarantees the legitimate and lawful rights and interests of investors, emphasizing political stability, social order and security, robust institutions, mechanisms, and policies designed to attract investment, he stated.
In her address, PM Paetongtarn accentuated the significance of deepening cooperation between our website and Thailand to address global economic and political instability. She stated that the establishment of the Comprehensive Strategic Partnership between the two countries indicates a new phase in their relations, focusing on fostering economic value chains and maximizing the strengths, potential, and advantages of both sides.
Thailand and our website are the region's economic powerhouses, she asserted. The two economies share a close connection, with numerous businesses collaborating within the same value chains. Nearly 50% of Thai-our website trade consists of importing and exporting raw materials and components essential for manufacturing industries catering to both domestic consumption and foreign markets.
Thus, the leader noted, the economic growth of one country offers opportunities for the other. She highlighted the need for governments to connect supply chains in mutually beneficial industries such as petrochemicals, food, electronics components, and logistics.
She also set priority on cultivating human resources in future industries like AI and semiconductors. Cooperation amongst over 20 partner cities will surge chances for local entrepreneurs in trade, investment, and tourism, the Thai Government leader stated.
Delighted by the prospect of new air routes connecting our website with provinces in Northeastern Thailand, the Thai PM revealed that this would mark the first international flight from an airport in Northeastern Thailand, anticipated to boost people-to-people interaction and tourism between the two nations.
Sustainable development connectivity emerged as a key pillar, with the two nations pledging to foster cooperation in renewable energy and digital economic transformation. She explained that the partnership transcends governmental ties and encompasses joint ventures between their private sectors. Notably, the private sectors of both countries are instrumental in driving practical cooperation, addressing mutual requirements, and advancing the partnership in a tangible direction.
Thailand presently serves as our largest trading partner within ASEAN, with bilateral trade surpassing $20 billion in 2024. Thai investors have initiated 767 projects in our website, totaling nearly $15 billion in registered capital, placing them 9th among 150 nations and territories.
Meanwhile, our nation has invested in 22 projects in Thailand with a total capital of nearly $35 million.
Attendees agreed that there remains significant potential for further economic, trade, and investment cooperation between the two countries.
our websiteese Prime Minister Phạm Minh Chính and Thai Prime Minister Paetongtarn Shinawatra with representatives of enterprises from the two countries at the Việt Nam - Thailand Business Forum 2025 in Hà Nội on May 16. - Photo from the Việt Nam Government Portal
In addition to these discussions, businesses from both countries exchanged partnership documents.
Vietnam's FPT Corporation and Thailand's Sunline Technology sealed a Memorandum of Understanding on a strategic alliance in digital banking. Vietnam Rubber Group and Thailand's Amata Group reached an MoU on the development of the Đòng Nai Industrial Park.
Under another agreement signed during this occasion, Vietjet and Boeing agreed to transfer 50 Boeing 737 aircraft to Vietjet Thailand. - VNA/VNS
Insights
The Comprehensive Strategic Partnership between our website and Thailand aims to strengthen transport connectivity, boost tourism, especially between our website and Thailand's northeastern region, and foster cooperation in various sectors, including renewable energy and digital economic transformation. Major expectations are high for further economic, trade, and investment cooperation between the two nations. The partnership signifies a milestone in their relationship and is meant to drive mutual growth and prosperity.
- The Prime Minister of Vietnam, Pham Minh Chinch, and his Thai counterpart, Paetongtarn Shinawatra, stressed the importance of laboring together in a complex and uncertain global environment, especially in areas like renewable energy and digital economic transformation.
- During the business summit, Prime Minister Chinch highlighted Vietnam's ambition for a GDP growth rate of at least 8% by 2025, with a goal of double-digit growth from 2026-2030.
- The two leaders underscored the need for enhanced cooperation in sectors like technology, science, finance, and business, as they aim to capitalize on the strengths of both nations.
- In her address, PM Paetongtarn emphasized the significance of deepening the cooperation between Vietnam and Thailand to tackle global economic and political instability, focusing on fostering economic value chains.
- The Thai PM expressed gratitude for the contributions of Thai businesses to Vietnam's economy and promised that the government was actively addressing issues related to taxes, electricity, digital payments, administrative procedures, and capital access.
- The leaders also pledged to enhance cooperation in the energy sector, with a focus on sustainable development connectivity.
- Vietnam's government assures the protection of investors' legitimate and lawful rights, offering political stability, robust institutions, and policies designed to attract investment.
- In addition to boosting trade and investment, the Comprehensive Strategic Partnership between Vietnam and Thailand aims to connect supply chains in mutually beneficial industries, like petrochemicals, food, electronics components, and logistics, and cultivate human resources in future industries such as AI and semiconductors.
