Mr. Arkhom Termpittayapaisith, Minister of Finance stated at the opening of the "Vietnam in Focus 2022: The Dream Journey" seminar that Vietnam is an emerging and interesting market, one of the countries offering opportunities for export and investment. This is due to Vietnam's economy, which is continuously expanding with a population of nearly 100 million and an expected growth rate of almost 7% per year, making it Thailand's fourth most important export market after the United States, China, and Japan.

In the past 2-3 years, Vietnam has become a new investment hub attracting interest from Thai investors looking to expand their businesses into foreign markets, thanks to advantages in labor, the free trade agreement between the European Union and Vietnam, and the promotion of foreign investment. Additionally, frameworks for cooperation such as ASEAN and APEC have strengthened trade and investment relations with Vietnam. However, beyond trade, there is also a need to focus on services, where Thailand has capabilities and experience in tourism, hospitality, and culture that should be introduced to the region. In addition to fostering domestic growth, we must also seek economic benefits from other countries in a manner that establishes partnerships to generate income back to the country.

 

The Thai government is ready to promote cooperation between the public and private sectors in international trade and investment, as well as in financial and fiscal matters, through the support of EXIM BANK, which aims to take on a proactive role as a development bank. It utilizes knowledge, expertise, financial tools, and a network of partners to help Thai entrepreneurs access new opportunities in the global trade market, overcoming obstacles, challenges, and risks in international trade and investment.

Dr. Rak Vachirakorn, Managing Director of the Export-Import Bank of Thailand (EXIM BANK) stated that the key to competition in the global market in the Next Normal era is the adaptability of Thai entrepreneurs. EXIM BANK is therefore ready to serve beyond banking, assisting Thai entrepreneurs of all levels, from startups to established businesses, to continue operating amid uncertainties and challenges in economic, social, and environmental dimensions. EXIM BANK offers comprehensive financial tools alongside knowledge and a network of partners to help Thai entrepreneurs confidently start or expand their international trade and investment, both in new and existing markets, particularly Vietnam, which has transformed from a "competitor" to a "key trading partner" that Thailand increasingly relies on. Vietnam has been Thailand's fifth most important trading partner since 2017, rising from 15th place in 2012, while it is currently Thailand's fourth most important investment source, moving up from 10th place a decade ago.

In 2021, the trade value between Thailand and Vietnam reached 20 billion US dollars, representing a 20% growth from 2020, with exports from Thailand to Vietnam amounting to 12.5 billion US dollars, an increase of 12.3% from the previous year.