Vietnam and Thailand strengthen industrial trade ties at the Industrial Exchange Event in Ho Chi Minh City on February 13. Organized by the Thai Trade Office, the event is part of the Department of International Trade Promotion’s (DITP) efforts under the Ministry of Commerce to broaden the export of industrial products to Southeast Asian nations.
The meet facilitated the participation of 20 Thai companies specializing in medical supplies, electronics, automotive parts, and machining equipment with more than 100 Vietnamese firms. Key industry voices, including members from the Saigon Construction & Building Material Association (SACA), the Ho Chi Minh City Association of Mechanical-Electrical Enterprises (HAMEE), and APEX TOOL Group, provided valuable perspectives on Vietnam’s market dynamics, future growth opportunities, and business practices.
Vietnam has experienced a resurgence in foreign direct investment (FDI) post-pandemic, with extensive free trade agreements. The nation’s leaders are prioritizing investment in advanced technology sectors such as semiconductors, electronics, and automotive manufacturing, while also promoting FDI growth in high-value services. Vietnam’s ongoing infrastructure expansion is opening up new opportunities in the construction materials sector, where Thai manufacturers maintain strong market advantages.
Vietnam’s construction industry, accounting for 7.87% of GDP ($37.5 billion), offers substantial investment potential, particularly in areas such as legal framework development, infrastructure, automation, and sustainable building. In parallel, the mechanical engineering sector, encompassing 30,000 enterprises, is steadily advancing in steel structure design and manufacturing. This sector is also a major focus for foreign direct investment, particularly in manufacturing and processing.
Trade data from Vietnam Customs shows bilateral commerce between Vietnam and Thailand climbed to $20.18 billion in 2024, marking a 6.4% increase from the previous year. Thailand maintained its position as Vietnam’s leading trade partner within ASEAN, representing 24% of Vietnam’s total regional trade volume. Vietnam experienced a trade deficit with Thailand for the 12th consecutive year, with a $4.26 billion shortfall. Both nations have set their sights on expanding bilateral trade to $25 billion, pursuing more balanced and sustainable trading pattern.
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