Vietnam PM hosts leaders of seven Thai leading corporations

The Star

18-05-2025

HANOI: Prime Minister Pham Minh Chinh hosted a reception in Hanoi on Friday (May 16) for leaders of Thailand's seven leading corporations and major enterprises investing in Vietnam, as part of the official visit to Vietnam by his Thai counterpart Paetongtarn Shinawatra.
The delegation included President and CEO of Siam Cement Group (SCG) Thammasak Sethaudom, Chairman of Charoen Pokphand Group Soopakij Chearavanont, CEO of AMATA Group Somhatai Panichewa, Chairwoman of the Executive Committee and CEO of WHA Corporation Jareeporn Jarukornsakul, Chief Digital Officer and member of the founding family of Central Retail Group Ton Chirathivat, President of Kasikornbank Chongrak Rattanapian, and Chairman of Super Energy Corporation Jormsup Lochaya.
The guests commended Vietnam's strategic and bold reforms in recent years, including efforts to streamline the state apparatus, institutional and administrative reforms, and a strong push for national development in the new era.
They expressed confidence that Vietnam would overcome current challenges to maintain its growth trajectory.
Thanking the PM and relevant Vietnamese agencies and localities for their active support, they reaffirmed their long-term commitment to doing business in Vietnam and their intentions to expand operations.
They raised proposals and recommendations to accelerate projects.
According to the PM, two-way trade surpassed US$20 billion last year, up 6.4% annually.
Both sides are now working toward a new trade target of $25 billion, in line with a joint statement recently issued by the two governments.
Thai investors have poured nearly $15 billion into 767 projects in Vietnam, making Thailand the 9th largest among 150 countries and territories investing in Vietnam.
Conversely, Vietnamese firms have invested in 22 projects in Thailand, with total capital amounting to nearly $35 million.
Chinh spoke highly of the efforts and long-term commitment of corporations in investing and developing business activities in Vietnam, thus actively contributing to the economic cooperation and friendship between the two countries.
2025 is the year when Vietnam accelerates, makes breakthroughs to successfully complete socio-economic development goals for the 2021-25 period, thereby creating a foundation for entering a new era – the era of the rise, wealth, civilisation, and prosperity of the nation, successfully achieving the goal of becoming an upper middle-income country by 2030 and a high-income nation by 2045.
In the context of complicated developments in the world economy, the Vietnamese Government is implementing many solutions to "turn danger into opportunity", aiming for a growth rate of over 8 per cent in 2025 and double digits in the period of 2026-30.
The PM asked Thai corporations and banks to continue expanding their operations and investing in areas of strength and new spheres such as the digital economy, green economy, circular economy, emerging industries, and high technology.
He asked these firms, with their experience and network of partners, to continue to support Vietnam in attracting reputable Thai and foreign enterprises to learn about and implement effective investment projects in Vietnam; strengthen cooperation with Vietnamese enterprises to help improve technological capacity, engineering, management skills, develop human resources, especially high-quality human resources, and join deeply regional and global value chains.
They should share experience and consultation to help the Vietnamese Government continue to perfect appropriate and effective institutions and policy mechanisms, he added.
For CP Group, Thailand's largest private corporation, Chinh urged it to promote the application of high technology and digital transformation, and increase labour productivity; make the most of local raw materials; strengthen training and use of local human resources, including Vietnamese managers, to reduce costs; sign long-term contracts with raw material areas; increase deep processing of Vietnam's strong and branded agricultural products and take advantage of the market network from the free trade agreements that Vietnam signed.
He also asked Kasikornbank to participate in developing international financial centres in HCM City and Da Nang, and restructuring weak credit institutions.
He affirmed that, in the spirit of 'harmonious benefits and shared risks', the Vietnamese Government will always accompany and create a favourable investment environment for Thai businesses to operate successfully, contributing to the development and prosperity of the two countries.
For the proposals of the Thai enterprises, PM Chinh directed ministries and sectors to urgently resolve problems facing them.
He also assigned Deputy Minister of Finance Nguyen Thi Bich Ngoc as the head of the working group in charge of this matter. - Vietnam News/ANN