Thailand has emerged as one of Viet Nam’s top 10 trading partners. Bilateral relationship between Thailand and Viet Nam, including Da Nang, is developing and has achieved positive results in recent years.

Da Nang People’'s Committee Vice Chairman Ho Ky Minh (right) presenting a memento to Mr. Apirat Sugondhabhirom, the Royal Thai Consul-General in Ho Chi Minh City during a meeting between the city’s leaders and Thai businesses in May 2019. Photo: THANH LAN

Becoming a potential trading partner for Da Nang

Viet Nam and Thailand first established diplomatic relations in 1976, and the two countries have enjoyed robust political and economic relations. The COVID-19 pandemic has caused significant disruption to global trade during the past two years but economic cooperation between Viet Nam and Thailand has yielded fruitful results.

Most notably, there are currently nearly 20 Da Nang businesses that have established trade relations with their Thai partners. Included are Hoa Tho Textile and Garment Joint Stock Corporation, Da Nang Rubber Joint Stock Company, Vinatex Da Nang Joint Stock Company, the March 29 Textile and Garment Joint Stock Company, and the Central Import-Export Seafood Joint Stock Company.

Ms. Do Thi Quynh Tram, the Deputy Director of the Da Nang Trade and Investment Promotion Agency and Vice Chairwoman of the Viet Nam-Thai Friendship Association in Da Nang, said that two-way bilateral trade between Da Nang and Thailand during the 2018-2020 period amounted to close to US$ 45 million on average per year. Thailand is the second largest source of FDI among ASEAN's partners in Da Nang.

In addition, Da Nang is now home to 6 branches and representative offices of Thai businesses. Since 2016, Da Nang has paid special attention to boosting trade promotion efforts in Thailand. Da Nang businesses have participated in a trade fair jointly organized by Countries of the Greater Mekong Subregion, a business Connections Program held in Khon Kaen Province, and the expanded International Trade Promotion Conference held in Udonthani. Many Thai businesses have also attended the annually International East-West Economic Corridor (EWEC) Trade and Tourism Fair held in Da Nang.

Data published by the municipal Department of Tourism shows that tourism cooperation between Da Nang and Thai localities have achieved positive outcomes. The number of Thai arrivals in Da Nang was around 22,720 in 2017, and the figure was over 9 times higher than for 2019 with 213,549. Thailand has become the third largest international visitor market in Da Nang.

By the end of 2019, Vietnam Airlines, Vietjet Air, Air Asia, Bangkok Airways, and Thai Airways operated flights on six routes linking Da Nang with Bangkok and Chiangmai with a frequency of up to 56 flights per week in order to bring visitors from large urban areas of Thailand to the city.

Fostering bilateral investment and trade cooperation

Thai Lan now emerges as a potential trade partner for Da Nang with a total accumulated investment capital of nearly 60 US$ million, equivalent to 11 projects. Therefore, the focus has been on boosting investment promotion efforts in a bid to attract even more Thai businesses to seek investment opportunities in Da Nang through introducing the business environment in the city to Thai diplomatic missions, and its businesses.

In addition, numerous conferences, seminars, talks, dialogues, and forums to promote trade and investment between Da Nang and Thailand have been held in Da Nang during visits of government officials and businesses from Thai localities to the city. Every year, the International East-West Economic Corridor (EWEC) Trade and Tourism Fair attracts the participation of many Thai businesses.

Mr. Ammat Chulajata, the Director of the Thai Trade and Investment Promotion Agency in Ha Noi, said Da Nang boasts great potential for fostering trade cooperation with Thailand due to the development of the East - West Economic Corridor. In the future, it will be more convenient for traveling and transporting goods from Northeast Thailand to Da Nang.

Mr Tran Phuoc Son, the Vice Chairman of the municipal People's Committee, remarked that Thailand has become a leading trade partner for Viet Nam. Da Nang has already signed a Letter of Intent expressing its desire to establish its cooperative relations with Thailand’s Khon Kaen Province, and Memorandum of Understanding on bilateral cooperation is in progress. Besides, the city maintains close bilateral cooperation with such Thai localities such as Mukdahan, Nakhon Phanom, Phuket, and Chiang Mai.

Reporting by THANH LAN – Translating by H.L