Vietnam, Thailand forge strategic partnership for shared prosperity

At the invitation of Vietnamese Prime Minister Pham Minh Chinh, the Prime Minister of the Kingdom of Thailand, Paetongtarn Shinawatra, will lead a high-level delegation from the Royal Thai Government on an official visit to Vietnam.

She will also co-chair the fourth session of the Vietnam–Thailand Joint Cabinet during this visit from May 15-16.

Ahead of her arrival, the Thai Ambassador to Vietnam, Urawadee Sriphiromya, granted an interview to local press on the significance of the visit and the evolving cooperation between the two nations.

As the two countries approach the 50th anniversary of diplomatic relations in 2026, could you share the significance and expectations of Prime Minister Paetongtarn Shinawatra’s upcoming visit to Vietnam?

Thailand and Vietnam enjoy a close and cordial relationship across all spheres, including strong people-to-people ties. Prime Minister Paetongtarn’s visit holds profound meaning. Both nations have been working diligently to elevate their bilateral ties to a higher level.

This means that the two countries will continue to coordinate to strengthen relations through joint strategic planning, towards the prosperous development of the two countries and their peoples. That, I believe, is the most significant aspect of the visit.

The timing of the visit is also symbolic, as we prepare to celebrate 50 years of diplomatic relations (1976–2026), a major milestone in our bilateral history. The meeting between our Prime Ministers will send a strong message across all sectors and levels, encouraging active engagement and fresh initiatives in anticipation of the anniversary next year.

The visit also takes place against a backdrop of regional and global uncertainty, with both Thailand and Vietnam facing significant economic challenges due to shifting geopolitical and geo-economic dynamics. It presents an opportunity for our leaders to exchange views and craft joint solutions to navigate these hurdles, strengthening both our economies and regional integration as ASEAN member states.

Could you share with us the key items on the agenda for the visit?

Our bilateral cooperation extends beyond governmental agencies, with active involvement from the private sector and the public. As such, discussions between our leaders will be wide-ranging.

In terms of security cooperation, we aim to strengthen collaboration to address transnational threats such as drug trafficking and cybercrime, areas where our citizens are increasingly vulnerable. Given the rise of online activities, cybercriminal networks have emerged, affecting both our countries. We will therefore explore joint measures to combat cyber threats, which not only cause economic harm but also erode public trust in e-commerce platforms.

On the economic front, both governments are committed to boosting bilateral trade. Despite regional and global headwinds, trade between our countries rose by six per cent last year, reaching US$20 billion.

We will look at further steps to facilitate trade. We can also cooperate in the field of logistics when the two countries are facing uncertainties in the international situation, factors affecting the economy and the supply chain of goods, in which Thailand and Vietnam still have a lot of room for cooperation, especially in the field of transportation.

Although we do not share a land border, our geographic proximity offers immense logistical potential. For example, travel between Nakhon Phanom and Ha Tinh takes just four hours. Both countries are exploring a joint rail connectivity project, which could facilitate the movement of goods from Thailand through Việt Nam to China.

Vietnam has prioritised logistics development and streamlined customs clearance. Currently, large volumes of Thai goods are exported via Vietnam’s Lang Son border to China. Every year, Thai farmers often export fruits from the Chanthaburi province, such as durian and mangosteen, to Vietnam. I have visited the border gate and noticed that the Vietnamese side has developed a very synchronous transport infrastructure.

We will also discuss investment cooperation. Thai investors were among the earliest to enter the Vietnamese market, with some companies now having operated here for over 30 years, across multiple sectors. Through engagements with the business community, I’ve seen strong confidence in Vietnam’s potential and its investor-friendly policies.

Vietnam remains Thailand’s top investment destination abroad, with Thai firms ranking consistently among the top ten foreign investors, holding a total registered capital of US$14 billion. Notable projects include Central Retail’s Go! Shopping centres and industrial zones were developed by Amata and WHA. Companies like SCG are also heavily involved, with major investments in petrochemicals (some exceeding $4 billion), construction materials and packaging.

Meanwhile, Thai energy firms are investing in renewables, contributing to Vietnam’s energy security. We will also address existing challenges faced by Thai investors and seek solutions to build confidence for future ventures.

In terms of the banking sector, Kasikorn Bank, one of Thailand’s leading banks, is partnering with Vietnamese counterparts to support innovation initiatives, while Krungsri Bank is preparing to expand its services here. Thai Beverage has long operated in Vietnam’s hospitality sector, with the Dusit Thani hotel chain set to open soon.

In terms of agriculture, CP Group has long provided high-quality food products in Vietnam, supporting food security. Other large-scale investors include Super Energy, which has a total installed capacity of 3,300 MW. Prime Minister Paetongtarn is fully aware of the private sector’s expectations for stronger Vietnamese Government support to foster a more conducive investment environment.

On people-to-people exchanges, many Thai citizens of Vietnamese descent maintain strong familial ties. Travel and tourism between our countries is flourishing, with Vietnamese citizens eligible for visa-free stays of up to 60 days in Thailand. During his recent visit to Vietnam, Thailand’s Foreign Minister (Maris Sangiampongsa) discussed the 'Six Countries, One Destination' initiative to boost regional tourism. With growing demand from ASEAN citizens to visit Vietnam, I hope to see expanded flight routes and land and water transport links to support tourism and cultural exchanges.

Moreover, we are working on advancing the 'Three connectivity' strategy, linking supply chains, local economies and sustainable development strategies. This is expected to deliver tangible benefits for both our peoples. Both nations have adopted sustainable development policies, promoting environmentally friendly and inclusive economic growth. I am confident our Prime Ministers will address the shared goals.

We have promoted the teaching of each other's languages ​​to enhance understanding and serve the business sector. We actively support Vietnamese language instruction in Thailand and encourage Thai language education in Vietnam. This will also be one of the contents discussed by both sides, because recently, Thai businesses have always needed to recruit Thai-speaking Vietnamese graduates. We expect to welcome more and more Thai tourists to Vietnam, having businesses in the service and tourism industry that can use Thai to meet the needs of the tourism industry, with the increasing number of Thai tourists coming to Vietnam.

Lastly, we see significant potential in technology cooperation. Vietnam is rapidly advancing in tech, driven by its leadership’s vision to develop an innovation-based economy, with focus areas such as AI, semiconductors and automation. Both countries could explore cooperation in human resource development in the sectors, an emerging area ripe for discussion.

Vietnam–Thailand cooperation is dynamic and wide-ranging, especially in trade and economic relations. The two governments have agreed on a target of raising bilateral trade to $25 billion. In your view, what steps are needed to reach that goal?

Both I, as the Thai Ambassador in Vietnam, and my Vietnamese counterpart in Thailand have been tasked with achieving this goal. We have held extensive consultations with businesses, the Ministry of Commerce and the Board of Investment of Thailand to identify viable pathways.

As mentioned, despite global uncertainties, including war and major power trade tensions, that have dampened consumption, our trade still reached $20 billion last year, up six per cent from the year before. This growth reflects the collective efforts to ease import-export procedures and remove trade barriers.

This year, the global situation is even more complex, demanding greater resolve. Yet we remain optimistic. Thailand is Vietnam’s seventh-largest trading partner globally and its largest within ASEAN. This strong foundation encourages us to push ahead toward the $25 billion goal through continued collaboration among government agencies, the business community and private stakeholders on both sides.

Viet Nam News

Asia News Network