Viet Nam, Thailand seek ways to enhance economic cooperation amidst COVID-19

The Vietnamese Embassy in Thailand, in collaboration with the Thai Embassy in Ha Noi, co-organised a webinar themed “Viet Nam-Thailand economic cooperation in response to the COVID-19 pandemic” on September 23.
Viet Nam, Thailand seek ways to enhance economic cooperation amidst COVID-19
Speakers at the webinar. (Photo:

The event, part of activities to celebrate the 45th anniversary of the two countries’ diplomatic ties, attracted the participation of 15 speakers who are leading economic experts, business managers of Thailand and Viet Nam and international organisations, together with more than 200 delegates from the two countries’ ministries, agencies, localities and businesses.

In his opening remarks, the Vietnamese Ambassador to Thailand Phan Chi Thanh highlighted achievements in bilateral economic cooperation. Despite the COVID-19 pandemic, two-way trade hit nearly 13 billion USD in the first 8 months of 2021, up nearly 30 per cent year-on-year, thus helping Thailand maintain its position as Viet Nam's leading trading partner in ASEAN. Thai investors continue committing to invest in Viet Nam with more than 600 projects, with a total capital of more than 13 billion USD.

Thanh thanked Thai businesses for actively joining hands with the Vietnamese government and people in fighting the pandemic, including donations to the vaccine fund and provision of medical equipment for Vietnamese hospitals. He affirmed that the Vietnamese Government is making efforts to implement measures to contain the pandemic and create favourable conditions for economic, production and business activities in the “new normal”.

Thai Ambassador to Viet Nam Nikorndej Balankura affirmed that the COVID-19 epidemic has caused unprecedented challenges, but also brought new development opportunities for businesses, so the private sector needs to adapt to the new normal, including digital transformation, and transition to green and sustainable economic sectors.

Nguyen Anh Duong from the Central Institute for Economic Management and expert Siwat Luangsomboon from Kasikorn Bank said that Viet Nam has many advantages in economic recovery, with an open economy and opportunities brought about by new-generation free trade agreements (FTAs).

Sanan Angubolkul, Chairman of the Thai-Vietnamese Business Council and Nguyen Quang Vinh, General Secretary of the Viet Nam Chamber of Commerce and Industry, proposed carrying out a clear roadmap and safety measures to soon reopen the countries, in which the key is to accelerate vaccinations against COVID-19 and improve the capacity of enterprises in self-response to the pandemic.

Meanwhile, Audsitti Sroithong, Director of the Thai Investment Promotion Centre in Viet Nam, said that the bio-circular-green (BCG) economic model will be a future trend to help countries recover. It will open up big opportunities for countries in the CLMV region (including Cambodia, Laos, Myanmar, and Viet Nam) to invest in Thailand and vice versa in the fields of smart agriculture, smart infrastructure, and electric vehicles.

Speaker Johnathan Wong, an economist at UNESCAP, proposed countries promote inclusive economic activities, create opportunities and equal access for vulnerable groups, and improve the capacity of the private sector.

At the second session on trade and investment amidst COVID-19, enterprises recommended the two Governments soon have roadmaps to reopen their countries, promptly propose consistent measures so that businesses can be well prepared, limit the impacts on production and business activities, ease financial burdens, and overcome labour shortages.

Businesses pledged to join hands with the Vietnamese Government in controlling the pandemic and recovering the economy.

OVs in Thailand donate to COVID-19 vaccine fund
Hai Duong's fresh lychees to be exported to Thailand for first time
Viet Nam, Thailand look to raise trade to 25 bln USD
Viet Nam, Thailand agree to foster enhanced strategic partnership
Viet Nam, Thailand agree to deepen enhanced strategic partnership
(Source: VNA)