"One Plus One on Three Connects": Shared Vision for Sustainable Vietnam-Thailand Development

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The Forum welcomed the participation of leaders from ministries, sectors, and localities of both Vietnam and Thailand; representatives of the Vietnam-Thailand Friendship Association, the Thailand-Vietnam Friendship Association; along with representatives from hundreds of enterprises of the two countries.

Thai Prime Minister Paetongtarn Shinawatra remarked that the Thai and Vietnamese economies are closely interconnected, with many businesses from both countries participating in the same value chains. (Photo: Thu Phuong)

In her remarks at the Forum, Thai Prime Minister Paetongtarn Shinawatra emphasized that the establishment of a Comprehensive Strategic Partnership between the two nations marked a new era in their relations, focusing on boosting economic value chains and fully leveraging each side’s strengths, potential, and advantages.

Prime Minister Paetongtarn Shinawatra noted that the Thai and Vietnamese economies are closely linked, with numerous companies from both countries engaged in the same value chains.

She highlighted that Thailand and Vietnam are the largest economies in the Greater Mekong Subregion and serve as key drivers of ASEAN’s economic growth.

In terms of trade, Vietnam is Thailand’s sixth-largest trading partner globally and its second-largest in ASEAN. Conversely, Thailand is Vietnam’s seventh-largest trading partner globally and the largest within ASEAN. Over the past year, bilateral trade reached US$ 21 billion, with an ambition to increase it to US$ 25 billion in the near future.

Regarding investment, Thailand ranks as the ninth-largest foreign investor in Vietnam, with total investment exceeding US$ 14 billion. Vietnamese private enterprises are also increasingly expanding their investments in Thailand.

Prime Minister Paetongtarn Shinawatra emphasized the tight economic connectivity between the two countries, where over 50% of bilateral trade involves importing and exporting raw materials and components that support domestic manufacturing and exports. Thus, one country's economic growth presents opportunities for the other.

She stressed that both governments have agreed to strengthen economic cooperation through the "Three Connects" strategy to foster harmonious and sustainable economic development in both countries.

The three key areas of connectivity are:

First, supply chain connect, especially in mutually beneficial industries such as petrochemicals, food, electronic components, and logistics; as well as human resource development in future-oriented sectors such as AI and semiconductors.

Second, local economic connections, particularly between Thailand’s Northeast region and Vietnam’s Central and Southern regions. Prime Minister Paetongtarn Shinawatra expressed delight over the prospect of new flight routes between Vietnam and Northeast Thailand in the near future. These would be the first international flights operated from an airport in Northeast Thailand, facilitating people-to-people exchange and promoting bilateral tourism development.

Third, sustainable development connectivity, with both countries accelerating cooperation in renewable energy and digital economic transformation.

She stressed that the Thailand–Vietnam Comprehensive Strategic Partnership extends beyond governmental relations to encompass partnerships between the private sectors of the two countries, which play a crucial role in advancing practical cooperation and enhancing bilateral relations.

Prime Minister Pham Minh Chinh held that given the current complex, unpredictable, and uncertain situation, with many issues that no single country can resolve alone, Vietnam, Thailand, and ASEAN countries must strengthen unity, embrace diversity, and enhance cooperation. (Photo: Thu Phuong)

In his speech, Prime Minister Pham Minh Chinh emphasized the long-standing traditional relationship between Vietnam and Thailand, noting that President Ho Chi Minh had spent many years conducting revolutionary activities in Thailand. Today, numerous historical sites associated with him are still preserved in Thailand.

The Prime Minister affirmed that cooperation between the two countries knows no bounds, aiming for peace, happiness, and prosperity for both peoples. In the context of a complicated and unpredictable global situation with many challenges that no country can solve alone, Vietnam, Thailand, and other ASEAN nations must enhance unity in diversity and boost cooperation.

According to Prime Minister Pham Minh Chinh, despite recent challenges, Vietnam has continued to maintain high economic growth. Its macroeconomy remains stable, inflation is under control, major economic balances are ensured, political and social stability is maintained, national defense and security are strengthened, foreign relations and international integration are promoted, and cultural and social development is prioritized with social security guaranteed. Many reputable international organizations and experts continue to highly regard Vietnam’s economic performance and prospects.

The year 2025 will mark Vietnam’s phase of “acceleration, breakthrough, and completion” in achieving its socio-economic development goals, as the country enters a new era of strong, prosperous, and civilized growth. Vietnam is targeting a GDP growth rate of at least 8% in 2025 and striving for double-digit growth during the 2026–2030 period.

The Prime Minister highly appreciated the practical and effective contributions of Thai businesses to Vietnam’s development and to the friendship between the two countries. Vietnam is working to resolve difficulties faced by Thai enterprises related to taxation, electricity, digital payments, administrative procedures, and access to capital.

Prime Minister Pham Minh Chinh called on Thai businesses to continue placing their trust in and partnering with Vietnam in its development journey, thereby contributing to the advancement of bilateral relations. He affirmed that the Vietnamese Government guarantees the legitimate and lawful rights and interests of investors, and ensures political stability, social order and safety, institutional reforms, and favorable policies to attract investment.

Prime Minister Pham Minh Chinh and Thai Prime Minister Paetongtarn Shinawatra witnessed the signing ceremony of Memoranda of Understanding (MOUs) between businesses of the two countries. (Photo: VGP/Nhat Bac) At the Forum, Vietnamese and Thai enterprises signed several Memoranda of Understanding (MOUs), including: - Boeing and Vietjet handed over an MOU to Thai Vietjet on the transfer of operational rights and technical support services for 50 Boeing Max aircraft. - FPT Group and Sunline Technology Co., Ltd. signed an MOU on strategic partnership in the field of digital banking. - FPT University Vietnam and King Mongkut’s University of Technology, Bangkok signed an MOU on cooperation in training human resources in AI, automotive automation, and robotics.

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