In his opening speech at the workshop, Vietnamese Ambassador to Thailand Ngo Duc Thang said that the event was a joint initiative between both countries to promote human resources and seek out opportunities for business and investment.
The increase in bilateral co-operation and investment is expected to expand economic links along the East-West Economic Corridor (EWEC), which will in turn help with the building of the ASEAN Economic Community by 2015, added Thang.
Yanyong Phuangrach from Thailand’s Ministry of Commerce said that both countries have seen a sharp rise in bilateral trade in recent years, with Thailand now ranking the third largest ASEAN country to invest in Vietnam.
In 2011, two-way trade rose to US$9.5 billion, up from US$3.6 billion in 2006. Over the years Thailand has injected US$6.7 billion into projects in Vietnam, while Vietnam has 56 investment projects in Thailand, mainly in aquaculture, tourism and construction.
The participants were given a presentation on Thailand’s investment policies as well as the country’s investment activities in Vietnam, by Vasana Mututanont, Vice Secretary General of Thailand’s Investment Committee.
To Hoai Nam, Vice Chairman and Secretary General of Vietnam’s Association of Small- and Medium-sized Enterprises, gave a briefing on the incentives that Vietnam offers investors from abroad, saying that they allow investors a great deal of protection.
In 2011, Vietnam and Thailand recorded a bilateral trade growth of 37%, of which Vietnam’s exports increased by 51% and its imports by 17% over the previous year.
Along with bilateral co-operation, both countries have strong ties within various regional and international frameworks and forums, particularly ASEAN, the Greater Mekong Sub-region and the Ayeyawady-Chao Phraya-Mekong Economic Co-operation Strategy (ACMECS).
