PM Nguyen Xuan Phuc has urged Thai firms to grasp opportunities arising from merger & acquisition activities and the equitisation of SOEs and their divestment in transport, infrastructure, food, agriculture, telecommunications, trade, services and construction in Vietnam.
At a meeting with Thai enterprises in Bangkok on August 18 during his official visit to Thailand, Phuc said the Vietnamese economy is now worth more than US$220 billion and the country is striving to meet basic criteria in the business environment, equivalent to ASEAN 4 level by 2020.
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Vietnam is also in the period of golden population with 60 percent of people in working age. Thai business representatives thanked the Vietnamese government for creating favourable conditions for investors from Thailand and the ASEAN member states to join SMEs equitisation in the country.
They pledged to keep expanding their business operations in Vietnam in the fields of retail, food, farm produce manufacturing and processing, energy, tourism and transport.
Several companies said they are learning about Vietnam’s tourist attractions and want to link up with Vietnamese airlines to increase tourist arrivals in the two countries.
Receiving Chairman of the Electricity Generating Authority of Thailand Kornrasit Pakchotanon, PM Phuc asked for accelerating the construction of a thermal power plant in the central province of Quang Tri.
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Pakchotanon pledged to ensure environment protection and use advanced technology during the process of construction.
Meeting Chief Executive Officer (CEO) of the Central Group Tos Chirathivat, Phuc hailed the Central Group as one of the largest retailers in the region and is performing well in Vietnam. He also asked the group to bring more Vietnamese farm produce to Thai supermarkets.
The CEO said his company wants to liaison with Vietnamese partners to do business in hotel, tourism and retail, adding that the Central Group is ready to sell Vietnamese fruits in Thai supermarkets and develop agriculture in Vietnam.
During a reception for Chairman of the Board of Directors and CEO of Kasikorn Bank (KBank) Banthoon Lamsam, the PM said the Vietnamese government wants KBank to continue partnering with the State Bank of Vietnam, ministries and agencies to share experience in settling bad debts and help firms overcome difficulties.
Lamsam said KBank plans to launch a financial support model for Vietnamese businesses, part of efforts to help the Vietnamese government achieve the goal of having 1 million firms by 2020.
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Party General Secretary and State President To Lam urged the Vietnam Trade Union to reform more rapidly, deeply and substantively. It must work together with the State, enterprises and training facilities to improve workers’ professional qualifications, digital skills and adaptability.
VGCL President Nguyen Anh Tuan said achievements obtained over the past ternure reflect the close guidance of the Party, effective coordination among State agencies, local authorities, the Vietnam Fatherland Front and socio-political organisations, support from employers and, above all, the dedication and innovation demonstrated by trade union officials, members and workers across the country.
Prime Minister Le Minh Hung emphasised the need to further improve institutions and policy frameworks, develop digital infrastructure and data resources, and create the necessary conditions for science, technology, innovation and digital transformation to become new drivers of economic growth.
Prof. Huang Rihan of Huaqiao University in China’s Fujian province said the Vietnamese leader’s address highlighted three major crises currently facing the world - the crisis of the international order, the crisis of development models, and the crisis of strategic trust.
Deputy Prime Minister and Minister of National Defence General Phan Van Giang said that alongside the robust growth of relations between the two countries, defence cooperation has continued to develop extensively and intensively, becoming increasingly practical and effective.
Adopted by the UN General Assembly on December 24, 2024, and opened for signature in Hanoi in October 2025, the convention is the first global multilateral treaty dedicated to combating cybercrime.
The visits also took place at a time when the Philippines is serving as ASEAN Chair in 2026, Singapore is preparing to assume the ASEAN Chairmanship in 2027, and Vietnam is set to host the APEC Economic Leaders’ Meeting in 2027.
Ngo Phuong Ly, spouse of Party General Secretary and State President To Lam, expressed her emotion at seeing the children’s optimism despite difficult circumstances, noting that both Vietnam and the Philippines place children at the centre of their development policies, from education, health care to child protection.
Party General Secretary and State President To Lam, his spouse and a high-level Vietnamese delegation departed Manila on June 1, concluding a successful state visit to the Republic of the Philippines from May 31 to June 1 at the invitation of Philippine President Ferdinand Romualdez Marcos Jr. and his spouse.
Participants reviewed rental housing demand in each area, considering different market segments and target groups. They also examined the gap between supply and demand, and pinpointed issues in policy frameworks.
Vietnam and the Philippines have agreed to elevate their relationship to an Enhanced Strategic Partnership, opening a new phase of cooperation in politics, defence and security, economic ties and other key areas.
Vietnam and the Philippines on June 1 issued a Joint Statement on the Enhanced Strategic Partnership during General Secretary of the Communist Party of Vietnam Central Committee and State President To Lam’s state visit to the Philippines.
Economic cooperation between Vietnam and the Philippines should move to a new level, with greater emphasis on quality, depth and substance, as the two countries seek to maximise opportunities under their newly upgraded Enhanced Strategic Partnership.
Party General Secretary and State President To Lam and his spouse are paying state visit to the Philippines from May 31 to June 1 at the invitation of President Ferdinand Romualdez Marcos Jr. and his spouse.
General Secretary and President To Lam encouraged the Vietnamese in the Philippines to remain united, abide by local laws, contribute practically to the homeland and continue fostering friendship and cooperation between the two countries.
By moving from crisis response to proactive risk reduction, Vietnam has positioned itself as a responsible and mature “architect” of regional peace, said a Malaysia-based expert.
The President Ho Chi Minh monument in the ASEAN Garden holds profound historical, cultural, and diplomatic significance, reflecting the friendship between Vietnam and the Philippines, as well as the solidarity within the ASEAN community.
The trip demonstrates Vietnam's high regard for its friendship and cooperation with the Philippines, as well as with ASEAN and the Southeast Asian region.
General Secretary of the Communist Party of Vietnam Central Committee and State President To Lam on May 30 met with leaders of major Singaporean corporations, technology companies, financial institutions and banks with long-standing investments and business operations in Vietnam.
General Secretary and President Lam expressed his hope that the community will remain united, preserve the Vietnamese language and cultural identity, and strengthen ties with the homeland.