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Vietnam Today

Vietnam & Thailand bolster cooperation

Released at: 19:11, 16/02/2016

Vietnam & Thailand bolster cooperation

Two PMs meet on the sidelines of ASEAN-US Summit in California.

by Tue Lam

During the ASEAN-United States Summit in California on February 15 (Vietnam time), Prime Minister Nguyen Tan Dung held a bilateral meeting with Thai Prime Minister Prayuth Chan-ocha on promoting comprehensive cooperation between the two countries.

The two PMs expressed their pleasure at the development of relations between Vietnam and Thailand to date and agreed to coordinate in the implementation of the strategic partnership in the 2014-2018 period and the results of the 3rd Thailand - Vietnam Joint Cabinet Retreat (JCR).

PM Dung acknowledged the close guidance from the Thai leader in promoting labor cooperation between the two countries as well as Thailand officially launching the registration and licensing of Vietnamese workers in the country from December 30, 2015.

He also suggested that the two sides coordinate to deploy the Memorandum on Labor Cooperation and the labor recruitment agreement signed in July last year.

The PM also proposed the two sides work together to resolve issues relating to fishing vessels and crew in a spirit of humanity and friendship.

For his part, PM Prayuth Chan-ocha agreed to promote cooperation in the fields of economics, trade, and investment, and to focus on key issues such as labor cooperation, fisheries, and agriculture.

The two also agreed to strengthen solidarity and promote ASEAN’s central role in addressing issues of peace, security, and development in the region.

In order to take advantage of the opportunities from the ASEAN Economic Community (AEC), many Thai enterprises will expand their direct investment in Vietnam and make the country one of Vietnam’s largest investors.

According to figures from the Foreign Investment Agency under the Ministry of Planning and Investment, in 2015 Thai investors began 30 new projects in Vietnam and 23 projects increased their capital, totaling $262.3 million.

Thailand is ranked third among ASEAN countries after Singapore and Malaysia in investment in Vietnam. Through direct and indirect investment Thai enterprises have progressively established a strong foothold in Vietnam, with prominent names including the CP Group, TCC Group Holdings, Berli Jucker (BJC), and SCG having invested in a range of sectors.

Source image: VGP

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