The 2006-2008 period saw a strong investment from Thailand. Thai investors poured US$5 billion into Vietnam, making up 21.4% or US$23.3 billion of total investment from ASEAN countries.
The FIA reported that Thai investment focused on the manufacturing and processing industries with 205 projects totally capitalized at US$7.037 billion. The US$3.77 billion Southern Oil Refinery Complex is a typical case in point.
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, the agreement for the encouragement and protection of investment signed on February 7, 1992 has facilitated Thai investments in Vietnam.
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 of Thailand 's strength and Vietnam's demand such as infrastructure, construction materials consumer goods, food, car and agriculture.
Vietnam has launched numerous trade promotion programs aiming to lure more investment from Thailand.