The Nation quoted Smith Taweelerdniti, managing director of Nithi Foods, saying while Thailand had previously led ASEAN in agricultural exports, Vietnam has rapidly closed the gap through targeted investment in food tech and agriculture.

"Vietnam offers strong tax incentives that attract more investors than Thailand. Its domestic market is large, and while wages are lower, purchasing power remains solid,” he said.

The Thai newswire cited statistics from the Vietnamese Ministry of Agriculture and Environment, highlighting the country’s agricultural exports hit a record US$62.5 billion in 2024, up 18.7% from last year, and the export earnings are expected to hover around US$64 – 65 billion this year.

In contrast, Thailand forecasts a 5.4% increase in agriculture and agro-industrial exports to US$52.19 billion, according to the Department of International Trade Promotion.

The Nation also quoted Rungphech Chitanuwat, portfolio director for ASEAN at Informa Markets, noting Vietnam has already overtaken Thailand in exports of rice and fruit.

She attributed the fact to the decisive Vietnamese Government, strong education investment, and infrastructure upgrades.

Meanwhile, Chitanuwat pointed out that Thailand’s sluggish bureaucracy, shifting policies, and ageing population pose long-term challenges.

“If this continues, Vietnam could surpass Thailand in multiple sectors within three to five years,” she warned.

Thai media fears Thailand could lose position as top SEA destination to Vietnam

VOV.VN - Tourism operators fear that Thailand will lose its position as the top Southeast Asian (SEA) destination to Vietnam in a few years, Thai newspaper Bangkok Post wrote in recent article.