Vietnamese Prime Minister Phạm Minh Chính and Thai Prime Minister Paetongtarn Shinawatra with representatives of enterprises from the two countries at the Việt Nam - Thailand Business Forum 2025 in Hà Nội on May 16. — Photo from the Việt Nam Government Portal

HÀ NỘI — Vietnamese Prime Minister Phạm Minh Chính and his Thai counterpart Paetongtarn Shinawatra co-chaired a business forum in Hà Nội on Friday, as part of the Thai leader’s trip to Vietnam.

Speaking at the Việt Nam – Thailand Business Forum, themed “One plus one on three connects,” PM Chính stressed that Thailand is the only country to have a joint Cabinet meeting mechanism with Việt Nam, initiated in 2004.

Thailand was also among the first ASEAN countries to establish a Strategic Partnership with Việt Nam in 2013, he continued.

During PM Paetongtarn’s visit, the two countries have upgraded their relationship to a Comprehensive Strategic Partnership.

PM Chính held that given the current complex, unpredictable, and uncertain situation, with many issues that no single country can resolve alone, Việt Nam, Thailand, and ASEAN countries must strengthen unity, embrace diversity, and enhance cooperation.

“While the two countries have already collaborated well, they must now work even better and more effectively, and deliver more tangible results,” the leader said.

Briefing the Thai leader on Việt Nam’s situation, PM Chính noted that Việt Nam aims for a GDP growth rate of at least 8 per cent in 2025 and strives to achieve double-digit growth during the 2026-30 period.

He also highlighted Việt Nam’s determination to streamline its organisational apparatus; re-organise administrative units; further improve its investment and business environment; achieve breakthroughs in science and technology development, innovation, and national digital transformation; promote the private sector as the most important driver of the national economy; accelerate international integration; and ensure seamless infrastructure connectivity between provinces and regions, as well as national and international connections.

The leader thanked Thai businesses for their practical and effective contributions to Việt Nam’s development and the friendly relations between the two countries.

He affirmed that Việt Nam is actively addressing obstacles faced by Thai enterprises related to taxes, electricity, digital payments, administrative procedures, and capital access.

The PM urged Thai businesses to continue trusting and staying committed to Vietnam throughout its development process, and to make more contributions to prosperity of both nations as well as the Việt Nam - Thailand Comprehensive Strategic Partnership.

The Vietnamese government guarantees the legitimate and lawful rights and interests of investors, ensuring political stability, social order and safety, along with robust institutions, mechanisms, and policies to attract investment, he stated.

In her remarks, PM Paetongtarn emphasised that Việt Nam and Thailand need to deepen cooperation to respond to global economic and political instability.

The establishment of the Comprehensive Strategic Partnership between the two countries marks a new era in their relationship, focusing on promoting economic value chains and maximising the strengths, potential, and advantages of each side, she said.

Thailand and Việt Nam are the largest economies in the Greater Mekong Subregion and serve as key drivers of ASEAN’s economic growth, she said.

The two economies are closely interconnected, with many businesses participating in the same value chains. Over 50 per cent of Thailand - Việt Nam trade consists of importing and exporting raw materials and components that support manufacturing industries serving both domestic consumption and exports.

Therefore, the leader said, the economic growth of one country presents opportunities for the other.

Noting that the two governments have agreed to promote economic cooperation under the “Three Connections” strategy, PM Paetongtarn stressed the need to connect supply chains in mutually beneficial industries such as petrochemicals, food, electronics components, and logistics.

She also highlighted the importance of developing human resources in future industries like AI and semiconductors.

Through cooperation among more than 20 partner cities, opportunities for local entrepreneurs in trade, investment, and tourism will be expanded, the Thailand Government leader said.

Expressing delight at the prospect of new air routes opening between Việt Nam and provinces in Northeastern Thailand, the Thai PM noted that this will be the first international flight from an airport in Northeastern Thailand, which is expected to boost people-to-people exchanges and tourism between the two countries.

The leader emphasised sustainable development connectivity as a key pillar, and stated that the two countries will foster cooperation in renewable energy and digital economic transformation.

She said the Comprehensive Strategic Partnership goes beyond government ties to include partnerships between their private sectors. Notably, the private sectors of both countries are the most important partners in driving concrete cooperation, meeting mutual needs, and advancing the partnership in a practical direction.

Thailand is currently Việt Nam’s largest trading partner within ASEAN, with bilateral trade reaching over US$20 billion in 2024. Thai investors have launched 767 projects in Việt Nam, totalling nearly $15 billion in registered capital, ranking 9th among 150 countries and territories.

Meanwhile, Việt Nam has invested in 22 projects in Thailand with a total capital of nearly $35 million.

Participants believed that there remains significant room and potential for further economic, trade, and investment cooperation between the two countries.

Also at the forum, businesses from both countries exchanged cooperation documents.

Việt Nam’s FPT Corporation and Thailand’s Sunline Technology signed a Memorandum of Understanding on a strategic partnership in digital banking.

Việt Nam Rubber Group and Thailand’s Amata Group reached an MoU on the development of the Đồng Nai Industrial Park.

Under another agreement inked on this occasion, Vietjet and Boeing will transfer 50 Boeing 737 aircraft to Vietjet Thailand. — VNA/VNS