At a seminar on the Thailand-Vietnam relationship held in Bangkok, Thailand, on September 21, adviser Wittaya Supatanakul from Thammasat University’s Centre for Research and Development of Cambodia, Laos, Myanmar and Vietnam, highlighted the strength of Vietnam, which he called a country of opportunities.

Vietnam has a big market with more than 87 million consumers, high purchasing power and cheap production and labour costs, while sharing cultural similarities with Thailand, said Wittaya, adding that Vietnam enjoys political stability and an investment encouragement policy and welcomes small and medium-sized enterprises to do business in the country.

On Vietnam’s investment environment, Wittaya said Vietnam offers foreign entrepreneurs and investors the benefits of social security and public order.

Its government policies welcome investors and facilitate necessary procedures while its industrial zones offer one-stop-shop services and openings in various fields, he said.

Nguyen Hong Quang from Hanoi’s East Asia Institute presented a report on “The Vietnam-Siam relationship in the 17^th and 18^th century: a common picture on the two countries’ relationship and Vietnamese people’s way of looking at Siam”.

At present, Thailand ranks tenth among more than 100 countries and territories investing in Vietnam with 216 projects totalling more than US$5.7 billion. Two-way trade exceeded US$6.1 billion last year and the neighbouring countries are striving to raise bilateral trade value to US$10 billion.

The seminar was jointly held by the Ministry of Foreign Affairs’ East Asia Department and Thammasat University ’s East Asia Research Institute of Thailand.