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  • News in Vietnam
  • 23 September 2022

Thai enterprises view Vietnam’s economic prospects favorably

As assessed by numerous Thai enterprises, Vietnam has successfully controlled the Covid-19 pandemic and largely pointed to resilience. Most businesses have expressed their belief that thanks to proper efforts and policies of the Party and the State, Vietnamese economy will positively thrive in the near future.

For Thai businesses, Vietnam is an attractive destination with high, stable GDP growth and a favorable investment environment. As of June 2022, Thailand is the 9th country out of 140 countries and territories investing directly in Vietnam with more than 600 valid projects with a total registered investment capital of more than 13 billion USD. Up to now, most of the leading Thai corporations have invested in Vietnam and achieved positive results.

When the Covid-19 pandemic broke out, the economy of Vietnam as well as of other countries deeply suffered with negative impacts. However, leaded by the Party and State, Vietnam has succeeded in putting the pandemic under control and ensuring economic development. International economic organizations forecast that Vietnam’s economy will grow by about 6% in 2022 that is highly regarded by Thai businesses

Chairman and CEO of Berli Jucker Company (BJC) – Aswin Techajareonvikul commented that Vietnam is one of the few Southeast Asian economies, even in the Asia Pacific region, that has successfully surpassed epidemic. Efforts of the Vietnamese Government in encouraging, and introducing policies to attract and draw foreign investors’ attention are resulted to our investment levels that returning to pre-pandemic.

He also added that BJC’s investment items in Vietnam have all developed efficiently and expressed his appreciation for the support of the Government of Vietnam. BJC Group started investing in Vietnam in 1995 with multiple items such as factories of glass, toilet paper, beverage cans… In 2016, BJC acquired Metro Cash & Carry Co., Ltd (Vietnam) and modified it to MM Mega Market.

Ms. Somhatai Panichewa, General Director of Amata Vietnam Company, said that although the pandemic has not come to an end and not yet considered as a chronic illness, Vietnam’ economic development has still been on track. She emphasized that during the recent Covid-19 pandemic, Vietnam was a flash point in Asian region economically and the only country that achieved positive economic development. Besides, it is also a absolutely solid basis for Vietnam to develop faster and stronger; Vietnam’s GDP this year will reach more than 7% and FDI will also heighten.

From her experience in implementing projects in Vietnam, Ms. Somhatai said that the Vietnamese Government should improve the laws and regulations on infrastructure construction not only in the South and the North but also in the Central region as well, especially in poor provinces, because of its significant  role to the Vietnamese economy as well as for foreign investors.

Mr. Aswin shared, thanks to the efforts of the Government of Vietnam, and various policies to attract foreign investors, the Vietnamese economy has grown rapidly that quite surprised him. This is also the reason that domestic companies as well as Southeast Asian companies wish to invest more intensively in Vietnam.

As for B.Grimm Power, an energy group having invested in Vietnam for the past 22 years, the Government and people of Vietnam with their forward-thinking spirit to bring prosperity to the country is a major reason attracting B.Grimm Power in particular and Thai businesses in general to invest in Vietnam.

Mr. Harald Link, Chairman of B.Grimm Power shared that in the locality where they invest, the local government and people are very friendly, always trying to contribute to the development of the economy. He believes that Vietnam in general and the Vietnamese people in particular will become more and more prosperous and the development of the Vietnamese economy is promising.

From the establishment of diplomatic relations in 1976 to date, Vietnam-Thailand relation has developed remarkably in every field with a bunch of noticeable achievements, especially in the sectors of trading and investment. Thailand is Vietnam’s largest trading partner in the ASEAN region with bilateral trade turnover in the first 6 months of 2022 reaching nearly 9 billion USD, an impressive number in the circumstance of the Covid-19 epidemic which caused global trade disruption. Both countries aim to reach a trade turnover of 25 billion USD by 2025.