Bangkok: From May 27-29, 2026, Thailand had the honor of welcoming the official visit of Mr. To Lam, General Secretary of the Communist Party and President of Vietnam, on the special occasion of the 50th anniversary of the establishment of diplomatic relations. This visit was not only to strengthen friendship but also to reinforce Vietnam's success in overcoming its difficult past to become a major destination for global investors.
According to Thai News Agency, a key topic of discussion was the "Three Connects" strategy, encompassing three key areas: supply chains, local economies, and sustainable development. Interestingly, the Vietnamese President chose Udon Thani Province as his first destination due to its historical ties, having been a military base there during his time, and its large population of overseas Vietnamese (Viet Kieu).
Krit analyzes that Vietnam's crucial turning point was the implementation of the "Doi Moi" policy in 1986, which boldly acknowledged the failures of the collectivized farming system and transitioned to a free market system. This was supported by several strong factors, including a fighting spirit and education, the power of "Viet Kieu," political stability, and economic diplomacy.
Another factor that builds confidence is a serious anti-corruption policy. In Vietnam, we see images of wealthy women being sentenced to death, or high-ranking leaders, from the Prime Minister to ministers, having to resign or be imprisoned when found guilty. Krit reflects that this is a different standard and something Thailand should consider.
Vietnam is currently moving towards "Doi Moi 2.0," focusing on high-tech industries, clean energy, and semiconductors, aiming to become a high-income country by 2045. For Thai entrepreneurs, Mr. Krit advises, "Don't underestimate them," but rather accelerate self-development and utilize the mechanisms of the Thai-Vietnam Business Council to foster cooperation. In the face of the trade war crisis, Vietnam is a "windfall" due to its geographical location bordering China and its role as a crucial link in the supply chain.
In conclusion, Vietnam's success over the past 40 years demonstrates that the vision of leaders who are willing to admit mistakes and the development of quality human resources are key to nation-building. If Thailand remains stagnant and fails to accelerate similar structural reforms, we may see Vietnam surpass us far beyond our reach in the near future.