Forum connects Vietnamese SMEs network with OV businesses in Thailand

Wednesday, 13/07/2022 16:49
A forum was co-organized by the State Committee for Overseas Vietnamese under the Ministry of Foreign Affairs and the Vietnam Small and Medium Enterprises Association (VINASME) in order to connect domestic businesses with overseas Vietnamese businesses in Thailand.
At the forum (Photo: 

The forum aims to create opportunities for localities and small and medium enterprises in Hanoi to promote investment and business potential with overseas Vietnamese businesses. This can be done while creating a direct connection between both sides’ businesses in potential fields such as trade, tourism, imports and exports.

Ms. Le Thi Thu Hang, assistant to the Minister of Foreign Affairs and director of the Press Information Department, said that Thailand is the country’s largest trading partner in ASEAN, as well as being the largest Vietnamese export market in ASEAN and the ninth largest investor.

The two countries have dynamic economies and share similarities in terms consumption habits, products and services. Therefore, they still have plenty of room for further promoting bilateral trade and co-operation in areas such as energy, logistics, finance, agriculture, and investment.

She believed that the role, stature, and prestige of the Vietnamese community in Thailand continue to grow. Indeed, the size and number of their enterprises and business establishments, as well as the industries they are operating in, are also in the process of growing. The community has contributed to both the homeland and the host country, thereby serving as a friendship bridge between both nations.

Vietnamese Ambassador to Thailand Phan Chi Thanh said that about 1,000 businesses have been established by overseas Vietnamese, mainly small and medium-sized firms, which operate in different sectors in Thailand. Many of them have enjoyed successes, with some expanding operations to other countries, including Vietnam.

The countries’ leaders are targeting bilateral trade of US$25 billion by 2025, rising from US$19.5 billion in 2021. This figure reached at US$5 billion in 2022. Therefore, there remains huge room to boost investment and trade ties, with the target being achievable if locality-to-locality and business-to-business connections are promoted, he said.

During the forum, the VINASME and the Thai-Vietnamese Entrepreneurs Association signed a co-operation agreement. In total, 20 co-operation agreements were also signed by the two sides’ businesses in different industries, including garments, tourism-hospitality, and high-tech agriculture.

The State Committee for Overseas Vietnamese co-ordinated with the Vietnamese Embassy in Thailand to launch a program connecting OV entrepreneurs in Thailand with six localities of Da Nang, Quang Nam, Kien Giang, Ho Chi Minh City, Bac Giang and Hanoi from July 3 - 10./.