Thailand-Vietnam-Laos Business Forum Promotes Investment, Trade, Tourism Links

The Thailand-Vietnam-Laos Business Forum, the first of its kind, took place in the Thai province of Udon Thani on November 28, with the participation of 300 management officials and representatives of Vietnamese businesses.
November 29, 2022 | 12:19
Thailand-Vietnam-Laos Business Forum Promotes Investment, Trade, Tourism Links
The Thailand-Vietnam-Laos Business Forum, the first of its kind, took place in the Thai province of Udon Thani on November 28. Photo: The World & Vietnam Report

In his opening remarks, Vietnamese Ambassador to Thailand Phan Chi Thanh affirmed that the Vietnam-Laos friendship and neighbourliness enhanced the strategic partnership of the two countries. Additionally, the positive outcomes of economic cooperation between two ASEAN nations have created a firm foundation for their economic ties.

The diplomat viewed the forum as a good opportunity to foster partnerships between Vietnamese enterprises in Thailand and Laos and their peers at home.

"Ample room still remains for investment, trade and tourism cooperation between the countries," he said, suggesting Vietnam and Thailand should optimise direct economic links between localities and businesses.

Thailand-Vietnam-Laos Business Forum Promotes Investment, Trade, Tourism Links
Vietnamese Ambassador to Thailand Phan Chi Thanh speaks at the forum. Photo: The World & Vietnam Report

Associations and enterprises should utilise cooperation opportunities and step up investment, trade and tourism promotion, contributing to enhancing the economic cooperation, for the sake of people of the three countries, he said.

Addressing the event, Udon Thani Governor Wanchai Kongkasem lauded the efforts by Vietnamese and Vietnamese-origin entrepreneurs in Laos and Thailand in trade, investment, and tourism promotion.

Thailand-Vietnam-Laos Business Forum Promotes Investment, Trade, Tourism Links
Udon Thani Governor Wanchai Kongkasem speaks at the forum. Photo: The World & Vietnam Report

Udon Thani, which plays an important role in connecting Mekong Sub-region countries, including Vietnam and Laos, is willing to host activities to connect Vietnamese firms and Vietnamese-origin enterprises in Thailand, he said.

Ambassador Ngo Huong Nam, Vice Chairman of the State Committee for Overseas Vietnamese Affairs, affirmed that the Vietnamese Party and State have paid special attention to the Vietnamese communities abroad and overseas Vietnamese-related affairs.

He commended the effective operations of the Thailand-Vietnam Business Association in connecting overseas Vietnamese enterprises in Thailand and their peers in Vietnam and Laos, contributing to promoting socio-economic development in the host country and mobilising resources for growth of the homeland.

Thailand-Vietnam-Laos Business Forum Promotes Investment, Trade, Tourism Links
Ambassador Ngo Huong Nam, Vice Chairman of the State Committee for Overseas Vietnamese Affairs, speaks at the forum. Photo: The World & Vietnam Report

Peter Hong, Permanent Vice Chairman and Secretary General of the Business Association of Overseas Vietnamese, said the forum offers a chance for enterprises of the three countries to meet and seek partnerships in trade, agriculture, high technology, culture, tourism, services and import-export activities, while helping to boost Vietnamese export.

Thailand is a big economic partner and the ninth largest foreign investor of Vietnam with more than 600 projects worth more than $13 billion. Two-way trade reached $19.5 billion in 2021 and $10.6 billion in the first half of 2022. The two countries aim to raise the figure to $25 billion by 2025.

The participants compared notes on strengths, demands and measures to promote collaboration in investment, trade and tourism. They signed tens of deals in trade, hi-tech agriculture, culture, tourism, service and import-export.

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