Thai businesses voice strong confidence in Vietnam’s long-term growth prospects

THE HANOI TIMES — Many Thai companies attending Thailand Week 2026 in Hanoi on January 22-25 view Vietnam’s rapid economic growth, young population and rising purchasing power as key drivers for long-term investment and business expansion.

Participating in the event for the ninth time, Nuttapoom Lokunpai, Chief Executive Officer of Thailand-based Biz Maker, said Vietnam’s fast-growing economy and consumer preferences that are increasingly similar to those in Thailand continue to encourage his company to expand further in the market.

Biz Maker entered Vietnam in 2016 and its products now appear at major retail chains and shopping centers, such as Go! and MM Mega Market.

Lokunpai said the company will focus on improving product quality while keeping prices competitive. He added that innovation and new technologies will play a central role in developing products that better suit Vietnamese tastes amid growing competition from Chinese and South Korean brands, he told Cong Thuong (Industry and Trade) Newspaper.

Thailand Week 2026 in Hanoi also marks the first participation of M.Y.R Cosmetics Solutions in an event held in the capital.

Its Chief Executive Officer, Kris Jangjarat, said the company aims to introduce high-quality Thai cosmetic products to Vietnamese consumers through the exhibition.

Vietnam stands out as a market that merits close attention due to its dynamic economy and growth rates that exceed those of Thailand, he said, adding that the company sees strong potential to expand its operations and brand in Vietnam.

According to Supaporn Sukmark, Deputy Director General of the Department of International Trade Promotion under Thailand’s Ministry of Commerce, strengthening trade ties with Vietnam remains a top priority for Thailand.

After a five-year pause, the return of Thailand Week to Hanoi offers an opportunity to showcase high-quality Thai products tailored to Vietnamese consumer demand.

Beyond product displays, the event includes business-to-business matchmaking activities that connect Thai exporters with Vietnamese importers and distributors.

Thailand Week 2026 features 120 booths from more than 100 companies, including Thai exporters and Vietnamese importers.

Exhibits span a wide range of goods aligned with Vietnamese consumption trends, including food and beverages, health and beauty products, mother-and-baby items, fashion and apparel and premium household goods.

To Ngoc Son, Deputy Director of the Department of Foreign Market Development at Vietnam’s Ministry of Industry and Trade, said Thailand Week 2026 provides a practical platform to strengthen economic cooperation and the long-standing friendship between the two countries.

Thailand is Vietnam’s largest trading partner within ASEAN, while Vietnam ranks as Thailand’s second-largest ASEAN trading partner.

Over the past five years, bilateral trade expanded at an average rate of 6.8% per year, reaching a record US$22 billion in 2025, accounting for nearly one-quarter of Vietnam’s total trade with ASEAN members.

Thailand also ranks among Vietnam’s top 10 foreign investors, with cumulative investment exceeding $15.2 billion in sectors such as manufacturing, energy, agriculture and services. The two countries also maintain close cooperation in culture and tourism.

“The ministry stands ready to support Thai and Vietnamese businesses in identifying cooperation opportunities, expanding markets and strengthening regional supply chains,” Son said.

According to Urawadee Sriphiromya, the Thai Embassy will organize a Thailand Festival in Hanoi in March to mark the 50th anniversary of diplomatic relations between Thailand and Vietnam.

She said the event forms part of broader efforts to promote trade, investment and economic connectivity while reinforcing the comprehensive strategic partnership between the two countries.