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(QNO) - Strengthening trading and tourism connections with Laos and Thailand is considered a way to promote the economic development in Quang Nam. So, the province has recently held several trade promotions to learn about their investment environment.
Opportunities from the East-West Economic Corridor
The Nam Giang- Dak Ta Ooc was officially recognised as an international border gate in 2021.
It is the shortest way to connect Quang Nam and Central Vietnam with Southern Laos and Northeastern Thailand via the future East-West Economic Corridor 2 (EWEC 2).
The EWEC 2 will go through Da Nang and Quang Nam of Vietnam, Sekong, Bolaven and Pakse of Laos, Ubon Ratchathani and Bangkok of Thailand.
It is estimated to shorten the distance between seaports in Central Vietnam (namely Da Nang and Ky Ha) and Northeastern Thailand as well as Southern Laos.
The EWEC 2 becomes an attractive force for investment. There are now a lot of commercial cooperation between Quang Nam enterprises and those in Laos and Northeastern Thailand.
According to statistics from the Management Board of Quang Nam Economic Zones and Industrial Parks, the total import- export turnover in 2021 through Nam Giang international border gate reached over USD62 million, up 217% compared to 2020.
The number was more than USD 19.6 million in the first 6 months of 2022.
The EWEC 2 is considered to have great potential, meeting the increasing demand for transportation through Nam Giang international border gate to the ports in Quang Nam.
THACO is ready for turning Chu Lai port into the largest container port in Central Vietnam, an international transshipment gateway connecting with Central Highlands, Laos and Thailand. Agricultural products and minerals from these regions will transported to Chu Lai port for export.
Trade expansion with Thailand
Taking advantages of the EWEC 2, Quang Nam will choose typical goods to export to the Thai market, promoting commercial activities between Quang Nam and Thai localitites effectively.
In recent years, Quang Nam has mainly exported automobiles, motorcycles, auto parts, and rubber products to Thailand.
At the same time, main imports are liquified petroleum gas, fabrics of all kinds, plastic beads, and plastic products.
In the first six months of the year, the total import- export turnover between Quang Nam and Thai partners reached USD 41.91 million from clothes, electrical wires for cars, impregnated tirecord curtains, interlining, etc.
At the recent Quang Nam – Thailand business connection forum 2022, it is said that overseas Vietnamese entrepreneurs in Thailand can support goods from Vietnam and Quang Nam to access the Thai market.
Also, an exhibition center for high quality Vietnamese goods was built in 2019 to help introduce and advertise Quang Nam goods in the Thai market.
Thailand is regarded as the Vietnam's largest trading partner in ASEAN.
So, Quang Nam is planning to have a working visit to Thailand by August 2022 to promote opportunities for cooperation and investment between the localities along the EWEC 2 through Nam Giang international border gate.
Linkage in tourism
Thailand and Laos are determined as the potential markets for Quang Nam tourism.
Cooperation and connection between Quang Nam and localities in Thailand and Laos may help diversify the flow of visitors and get into the large market of international travellers transiting in Thailand.
Reportedly, the event of Sky connection- Vietnam 2022 is planned to take place in Bangkok (Thailand) on July 27.
There will be about 150 Thai and Vietnamese travel and tourism businesses, 10 of them from Quang Nam and Da Nang, taking part in the event. It is considered a major linkage in travel and tourism between the two countries, promising to open up new opportunities for post-Covid-19 tourism.
Central Vietnam and Quang Nam are always potential tourist attractions for Thai tourists.
So, when Vietnam opened for foreign tourists at the end of March 2022, several Thai famtrips and press trips have been held in Quang Nam.
In the 2nd quarter of 2022, nearly 2,100 Thai travellers went to Quang Nam. It is forecasted that the number will increase in the remaining months of the year.
The number of Lao travellers to Quang Nam is rising but rather limited. However, Quang Nam still identifies Laos and Thailand as the main foreign tourist markets.
Conclusions
According to Chairman of the Quang Nam provincial People’s Committee Le Tri Thanh, Quang Nam is expected to become main part of the development of Central Vietnam, forstering the economic development of the localities on the EWEC and of the countries (such as Laos and Thailand) in ASEAN.
Quang Nam is now owning 10 industrial clusters and parks; a synchronous infrastructure system connecting between localities in Central and Central Highlands, with localities in Laos and Thailand; an advantageous logistics system.
They are considered great potential and advantages for long-term investment in the province.
Reportedly, a memorandum of cooperation in trade, investment and tourism has been signed between Quang Nam and the Thai Business Association.
Thai businesses want to cooperate in investment, technological transfer, and trading connection. It is the first positive signal to open a new cooperation path that brings Vietnamese and Quang Nam’s goods to Thailand and vice versa.