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Thailand Attracts Vietnamese Investment in Medical Hub & Hotels

Thailand Attracts Vietnamese Investment in Medical Hub & Hotels

Thansettakij•Economy•2d ago

Reader Briefing

Thailand seeks to boost bilateral trade and investment with Vietnam, aiming for a $50 billion target within five years by attracting Vietnamese capital into sectors like Medical Hub and Hospitality.

  • •Thailand is actively seeking to attract investment from Vietnam, particularly in the Medical Hub and hotel sectors.
  • •The two countries aim to increase bilateral trade value to $50 billion within the next five years.
  • •This initiative aims to address the current investment imbalance, where Thai investment in Vietnam significantly outweighs Vietnamese investment in Thailand.
  • •Key cooperation areas proposed include connecting supply chains (agriculture), digital and social sectors (soft power like film production), and sustainability (green energy).

Overview

  • •Thailand, represented by Sanun Angubolkul, is proactively working to enhance economic ties with Vietnam.
  • •Sanun Angubolkul emphasized that achieving the $50 billion trade target requires increased Vietnamese investment in Thailand to foster joint production and export chains.
  • •The current trade imbalance, with lower Vietnamese investment in Thailand compared to Thai investment in Vietnam, is a primary driver for this initiative.
  • •Vietnam has shown interest in Thailand's hospitality sector, including hotels, recognizing Thailand's global expertise.
  • •Proposed areas of cooperation include connecting agricultural supply chains, leveraging Vietnam's strengths in production and Thailand's in processing and value addition.
  • •Collaboration in digital and social sectors is proposed, potentially involving Vietnamese advancements in digital technology and new-generation human resources for co-productions like films.
  • •"Connect Sustainability" is a proposed area focusing on Green Energy and Net Zero goals, essential for new industries like Data Centers.
  • •The Thai private sector has presented a "blueprint" for economic cooperation to shift from competition to synergy for global market competitiveness.

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Source: Thansettakij (Original)

Key Quotes

Sanun Angubolkul
"The 50 billion dollar target will not be achieved if cooperation is one-way. Vietnam must invest more in Thailand to create production and joint export chains."
เป้าหมาย 5 หมื่นล้านดอลลาร์จะเกิดขึ้นไม่ได้ หากความร่วมมือยังเดินเพียงทางเดียว เวียดนามต้องเข้ามาลงทุนในไทยมากขึ้น เพื่อสร้างผลผลิตและห่วงโซ่การส่งออกร่วมกัน

Key Entities

Person

Sanun Angubolkul(นายสนั่น อังอุบลกุล)
Chairman of the Thai Chamber of Commerce and Board of Trade of Thailand, and President of the Thai-Vietnamese Friendship Association.
Anutin Charnvirakul(นายอนุทิน ชาญวีรกูล)ℹ️
Prime Minister of Thailand and Minister of Interior.

Organization

Thai Chamber of Commerce and Board of Trade of Thailand(หอการค้าไทยและสภาหอการค้าแห่งประเทศไทย)
The leading chamber of commerce organization in Thailand, representing businesses and trade interests.
Thai-Vietnamese Friendship Association(สมาคมมิตรภาพไทย-เวียดนาม)
An association promoting friendly relations and cooperation between Thailand and Vietnam.

Place

Vietnam(เวียดนาม)ℹ️
A Southeast Asian country, identified as a key partner for trade and investment by Thailand.
Thailand(ไทย)ℹ️
A Southeast Asian country, actively seeking to attract foreign investment and boost its economy.

Policy

Medical Hub
A strategic initiative by Thailand to become a leading global destination for medical tourism and healthcare services.
Connect Supply Chain
A proposed economic cooperation framework between Thailand and Vietnam, focusing on integrating agricultural supply chains.
Connect Digital & Social
A proposed economic cooperation framework between Thailand and Vietnam, focusing on digital technology and soft power initiatives like film production.
Connect Sustainability
A proposed economic cooperation framework between Thailand and Vietnam, emphasizing green energy and Net Zero goals.

Industry

Hotels(โรงแรม)
A key sector of interest for Vietnamese investment in Thailand, leveraging Thailand's global expertise in hospitality.
Hospitality
The business of providing services in lodging and related areas, a sector where Thailand possesses world-class expertise attracting Vietnamese interest.
Data Centerℹ️
Facilities that house computer systems and associated components, which will be supported by sustainability initiatives between Thailand and Vietnam.

Technology

Green Energyℹ️
Renewable energy sources, a focus for cooperation between Thailand and Vietnam to support new industries and sustainability goals.

Goal

Net Zeroℹ️
The objective of balancing greenhouse gas emissions with removal, a sustainability goal for cooperation between Thailand and Vietnam.