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Thailand is Vietnam’s 10th biggest foreign investor
  • | VOV | August 03, 2011 10:47 AM

A meeting to mark the 35th anniversary of Vietnam-Thailand diplomatic ties was held in Ho Chi Minh City on August 2 by the municipal People’s Committee and the Union of Friendship Organisations.

Bilateral ties between Vietnam and Thailand have been developing well over the past 35 years, especially in trade and investment.

Thai Consul General in Ho Chi Minh City, Somchai Powcharoen, said the two countries often conduct exchange visits at all levels and the transport link has opened the door for strengthening cooperation in economics, trade and tourism.

Thailand is willing to work with Vietnam to introduce a “strategic partner” model between the two neighbouring countries, Somchai said.

Two-way trade turnover between the two nations in 2010 reached US$7 billion, helping Thailand place third among ASEAN partners.

Thai businesses are currently investing in 250 projects with a combined registered capital of more than US$5.5 billion, ranking them number 10 among foreign investors in Vietnam.

Thailand has 91 investment projects in Ho Chi Minh City worth US$132 million, and the Bangkok - Phnom Penh - Ho Chi Minh City tourism road has opened new economic development and tourism cooperation between the two countries.

Thailand has also provided technical assistance for Ho Chi Minh City’s urban railway and flood prevention projects.

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