Revealed: Why Thai conglomerates are investing in Vietnam

Renewable energy, retail, and the digital economy are among the sectors in which many Thai groups are looking to expand investments in Vietnam, reflecting growing bilateral economic cooperation.

Vietnam–Thailand ties enter a new phase

In an interview with the Nguoi Lao Dong newspaper, Ms. Phayom Visouveth, Vice President of the Thai Business Association in Vietnam, said Vietnam is one of the region’s most attractive investment destinations. She cited sustainable economic growth, strong capital inflows, and a dynamic demographic structure.

She added that Vietnam is transitioning from a manufacturing-based economy to one increasingly driven by innovation, technology, and domestic consumption. Against this backdrop, she estimated that renewable energy, retail, and the digital economy are key areas where Thai groups want to expand investment.

Comprehensive Strategic Partnership and regional cooperation

At the ASEAN-Vietnam 2026 sharing session titled “50 years of Vietnam–Thailand diplomatic relations,” Mr. Pham Quang Vinh, former Deputy Minister of Foreign Affairs and former head of ASEAN SOM for Vietnam, said the bilateral relationship is entering a new phase. He noted an upgrade to a Comprehensive Strategic Partnership, aimed at sustainable peace, inclusive development, innovation, and enhanced regional cooperation.

Trade target and investment cooperation

Vietnam considers Thailand its largest trading and economic partner in ASEAN. The two core priorities are building resilient supply chains to withstand global economic shocks and strengthening people-to-people connectivity.

Both sides aim for trade turnover of USD 25 billion.

Ms. Urawadee Sriphiromya, ambassador of the Kingdom of Thailand to Vietnam, said economic cooperation between the two countries is expanding across trade, logistics connectivity, renewable energy, and green development. She also stated that Thailand is currently the eighth-largest foreign investor in Vietnam by cumulative investment.

Opportunities for Vietnamese firms in Thailand

Looking ahead, Thailand and Vietnam plan to continue close cooperation to promote peace, stability, and security in the region, including efforts to achieve the USD 25 billion trade turnover target.

Meanwhile, the Vice President of the Thai Chamber of Commerce in Vietnam highlighted opportunities for Vietnamese enterprises in the Thai market:

• Agricultural products and processed foods: Vietnam has advantages in unique agricultural products with significant potential to expand into the Thai market.
• Industrial products and raw materials: if quality continues to improve and cooperation is strengthened, Vietnamese goods can increasingly become part of Thailand’s supply chain.
• Consumer goods: Vietnamese brands are increasingly favored in areas such as food and apparel, and may continue expanding in Thailand through modern retail and e-commerce channels.