Thai Prime Minister Makes First Official Visit to Vietnam After 11 years

At the invitation of Prime Minister Pham Minh Chinh, Thailand Prime Minister Paetongtarn Shinawatra led a high-level delegation on an official visit to Vietnam on May 15–16, 2025, and co-chaired the 4th Vietnam–Thailand Joint Cabinet Meeting. This marked her first visit to Vietnam since taking office and the first official visit by a Thai prime minister to Vietnam in 11 years. It was also the first Joint Cabinet Meeting between the two governments in a decade. The visit served to further strengthen political trust and provided an opportunity for both sides to review the progress of bilateral cooperation across multiple sectors, laying the groundwork for deeper and more substantive collaboration in the new phase of partnership and development.

During the visit, the two Prime Ministers co-chaired the 4th Vietnam–Thailand Joint Cabinet Meeting, where they discussed and reached agreements on multiple areas of bilateral cooperation. Both sides reaffirmed their commitment to effectively implementing the 2022–2027 Action Program, striving to increase bilateral trade to USD 25 billion by 2025 in a balanced and sustainable manner.

The two leaders also emphasized the importance of promoting the “Three Connectivity Strategy,” which includes supply chain connectivity, transportation and logistics infrastructure connectivity, and digital connectivity. They agreed to establish a Joint Working Group to define the scope and implementation roadmap of the strategy.

In addition, both sides committed to enhancing cooperation in tourism, people-to-people exchanges, security and defense, and tackling non-traditional security challenges. They also agreed to strengthen coordination within ASEAN and other multilateral forums.

Vietnam–Thailand Trade and Investment Overview

As of the end of 2024, bilateral trade turnover between Vietnam and Thailand reached approximately USD 22.5 billion, up 4.2% year on year. In the first four months of 2025, two-way trade reached nearly USD 6.88 billion, an 11.2% increase over the same period in 2024. Thailand remains Vietnam’s largest trading partner in ASEAN, while Vietnam is Thailand’s second-largest trading partner within ASEAN.

In terms of investment, as of January 2025, Thailand had 761 active projects in Vietnam with a total registered capital of USD 14.8 billion, ranking 9th among countries and territories investing in Vietnam and 2nd among ASEAN investors, following Singapore. Thai investments primarily focus on manufacturing, processing, renewable energy, and retail.

Conversely, Vietnam has 18 newly licensed investment projects in Thailand and three capital adjustment cases, with a total registered capital of USD 34.2 million, ranking 33rd among 80 countries and territories receiving Vietnamese investment.

Thailand is Vietnam’s largest trading partner in ASEAN (Photo: Infographics.vn)

Key Sectors and Industries of Interest to Thailand Investors in Vietnam

According to Mr. Praween Wirotpan, Chairman of the Thai Chamber of Commerce in Vietnam (ThaiCham), Thai investors are actively expanding in Vietnam through both new investments and mergers & acquisitions (M&A). Their investment preferences are highly diversified, with a strong presence across sectors such as manufacturing, processing, retail, electricity, logistics, banking, and agriculture. Thai businesses also operate in the food and beverage industry, construction materials, consumer finance, FMCG (fast-moving consumer goods), and industrial real estate. Major Thai conglomerates such as ThaiBev, C.P. Group, SCG, Bangkok Bank, KBank, Central Group, Amata, Gulf Energy, B.Grimm, and Berli Jucker (BJC) are operating successfully in Vietnam.

Mr. Praween also highlighted Vietnam’s political stability, skilled labor force, access to global markets through free trade agreements (FTAs), and favorable investment conditions as key advantages. He emphasized the untapped potential for cooperation in areas such as logistics, renewable energy, supporting industries for automobiles, and semiconductors.

As part of the official visit to Vietnam, on 16 May, Vietnam Prime Minister Pham Minh Chinh attended a high-level meeting with executives from seven leading Thai corporations operating in Vietnam. These included SCG, CP Group, ThaiBev, Amata, Central Group, Gulf Energy, and B.Grimm Power. At the meeting, the Vietnamese Prime Minister reaffirmed the government’s commitment to creating a stable, transparent, and supportive investment environment while encouraging Thai enterprises to expand operations, deepen localization, and enhance value-added production in Vietnam. The participating Thai business leaders expressed strong confidence in Vietnam’s economic prospects and emphasized their intention to increase long-term investment in areas such as infrastructure, renewable energy, manufacturing, logistics, retail, and food & beverage.