Thai businesses have invested in 440 projects in Vietnam with a total registered capital of US$7.7 billion, ranking tenth among 112 foreign investors in the country, according to the Foreign Investment Agency (FIA).

The 2006-2008 period saw a strong investment from Thailand. Thai investors poured US$5 billion in Vietnam, making up 21.4% of total investment from ASEAN countries (US$23.3 billion).

The FIA reported that Thai investment focused on the manufacturing and processing industries with 205 projects and a total registered capital of US$7.037 billion. Typical is the US$3.77 billion Southern Oil Refinery Complex.

Recently, Thai businesses began shifting their investment to industrial infrastructure and retail distribution sectors, for instance, a joint venture project between Thailand Amata VNPCL and Sonadezi Bien Hoa and MM Mega market in HCM City.

According to economic experts, in order to facilitate trade activities, the two governments have signed an agreement for the encouragement and protection of investment on February 7, 1992. As a result, Thai investors do not face many difficulties in Vietnam.

The two countries have effectively coordinated at regional and international forums, especially ASEAN forums and showed active roles in building a strong ASEAN Community.

While the Thai government encourages its businesses to invest in Vietnam, the Vietnamese government is considering Thailand an important partner.

The Ministry of Planning and Investment said Vietnam expects Thai businesses to invest in fields they have strong potential such as infrastructure, construction materials, consumption products, food, car and agriculture.

Vietnam has implemented trade promotion programs and supported Thai businesses to lure more investment from Thailand.

VOV