Vietnamese Vice President Võ Thị Ánh Xuân and Thai Deputy Prime Minister and Foreign Minister Don Pramudwinai witnessed the exchanges of memorandums of understanding between Vietnamese and Thai businesses at the forum. — VNA/VNS Photo

BANGKOK — Việt Nam welcomes Thai enterprises and creates optimal conditions for them to invest in the areas of Thailand’s strengths and Việt Nam's potential, Vice President Võ Thị Ánh Xuân said on Thursday.

Addressing the Việt Nam-Thailand Business Forum in Bangkok, Xuân stressed that Thailand ranks ninth out of the 139 countries and territories worldwide investing in Việt Nam, and second in the Association of Southeast Asian Nations (ASEAN) after Singapore.

Thailand is also Việt Nam's biggest trade partner in ASEAN, with two-way trade reaching US$18.8 billion last year, up 18 per cent year-on-year, she said, noting that the two sides are striving to raise the value to $25 billion by 2025.

However, Vietnamese investments in Thailand still remain modest, with only 17 projects worth $32.8 million. Việt Nam also runs a trade deficit of more than $6 billion with Thailand.

Briefing participants on Việt Nam's economy, Xuân said the country prioritises projects using cutting-edge technology, modern administration, and high added value, promotes sustainable export-import and seeks to raise its position in the global value chain.

Việt Nam always attaches importance to and wishes to foster its enhanced strategic partnership with Thailand, the Vice President emphasised.

In his remarks, Thai Deputy Prime Minister and Foreign Minister Don Pramudwinai suggested the two countries promote connectivity in value chains, economic platforms, and sustainable growth strategies.

Such connectivity will help businesses maximise the opportunities and potential of both Việt Nam and Thailand while consolidating and enhancing the bilateral strategic cooperation, he added.

Sharing the Thai official’s views, Xuân said apart from connectivity in value chains and transport, and links between small- and medium-sized enterprises, the two countries should enhance the friendship between their peoples, and cultural ties.

On this occasion, the officials witnessed the signing of a memorandum of understanding between Vietnamese and Thai firms.

The Vice President is leading a delegation to attend the Global Summit of Women 2022 (GSW 2022) in Bangkok under the theme “Women: Creating Opportunities in the New Reality”. — VNS