By Jareeporn Jarukornsakul

Chairman of the Executive Committee and Group CEO, WHA Corporation PCL.

This year marks the 50^th anniversary of diplomatic relations between Thailand and Vietnam—a milestone that celebrates five decades of friendship, trust, and growing economic cooperation.

As we celebrate this important occasion, it is also an opportunity to look ahead and consider how our partnership can continue to evolve in an increasingly interconnected world. More importantly, it is a chance to rethink how Thailand and Vietnam can work together to strengthen ASEAN’s competitiveness at a time when the global economy is undergoing profound transformation.

Throughout my career, one question has surfaced repeatedly: are Thailand and Vietnam competitors in attracting foreign investment? Today, I believe that question has fundamentally changed.

Over the past three decades, I have seen investors transform the way they make investment decisions. They are no longer choosing one country over another. Instead, they are building regional strategies that strengthen supply chains, improve resilience, and support long-term growth. Cost remains important, but today’s investors also prioritise quality infrastructure, reliable utilities, clean energy, digital connectivity, skilled talent, and stable business environments.

This shift has been accelerated by geopolitical uncertainty, supply chain realignment, and the rapid growth of future industries. Around the world, companies are diversifying manufacturing locations, strengthening business continuity, and seeking trusted partners that can support long-term expansion. Rather than relying on a single production base, many multinational companies are creating regional manufacturing and logistics networks that allow them to adapt more quickly to changing market conditions. Bilateral trade between Thailand and Vietnam reflects this momentum, having grown by nearly a quarter in the first months of 2026 alone—a clear signal of how closely intertwined our two economies have become.

In this new environment, the question is no longer “Thailand or Vietnam?” Increasingly, it is “How can Thailand and Vietnam work together to create greater value?”

This shift creates an opportunity for Thailand and Vietnam to build on each other’s strengths rather than compete for the same investment.

Thailand offers one of Southeast Asia’s most mature industrial ecosystems, supported by strong infrastructure, integrated supply chains, world-class manufacturing expertise, and decades of experience in industries such as automotive, electronics, and petrochemicals. The country’s growing investment in digital infrastructure, renewable energy, and advanced logistics further strengthens its position as a regional industrial hub.

Vietnam, meanwhile, has emerged as one of Asia’s fastest-growing manufacturing destinations. Its dynamic workforce, strong economic momentum, and extensive network of free trade agreements provide exceptional access to global markets and make it an increasingly attractive destination for international manufacturers looking to expand their regional footprint.

These strengths are different, but they are highly complementary.

Together, Thailand’s industrial depth and Vietnam’s growth momentum create a stronger regional platform than either country could offer alone. Rather than competing for the same investment, both countries can become part of a connected manufacturing ecosystem that enables businesses to optimize production, diversify risk, and respond more effectively to global market changes.

This belief has shaped WHA Group’s Thailand Plus Vietnam strategy. Rather than encouraging investors to choose between the two countries, we help them leverage the strengths of both through an integrated regional investment platform.

In Thailand, WHA Group has successfully built an integrated platform comprising five core businesses—Logistics, Industrial Development, Utilities and Power, Digital Solutions, and Mobility. Building on this strong foundation and proven track record, we have expanded selected businesses into Vietnam, bringing our expertise and integrated solutions to support customers across the region.

In Vietnam, our presence currently spans Industrial Development, Logistics, and Utilities and Power. Our industrial development portfolio includes WHA Industrial Zone 1 and 2 – Nghe An and WHA Smart Technology Industrial Zone 1 and 2 – Thanh Hoa, with further potential developments comprising two additional industrial zones in Thanh Hoa and new industrial zones in Hung Yen and Da Nang. Our logistics footprint includes the DPL Minh Quang Logistics Center in Hung Yen and WHA Innovation Park – Thanh Hoa, which offers ready-built factories and warehouses..

Our Utilities and Power business further supports Vietnam’s essential infrastructure through the Cua Lo Water Supply Project in Nghe An Province and the Song Duong Surface Water Treatment Plant in Hanoi. Together, these businesses reflect WHA Group’s long-term commitment to developing integrated ecosystems that connect industrial development, logistics, utilities, and smart infrastructure—enabling businesses to grow with confidence and capture opportunities across Thailand and Vietnam.

Looking ahead, industries such as semiconductors, electric vehicles, digital technologies, cloud computing, artificial intelligence, and advanced electronics will increasingly depend on high-quality infrastructure and trusted long-term partners rather than simply competitive labour costs. Success will be determined by the ability of countries to provide reliable ecosystems that support innovation, sustainability, and resilient supply chains.

This is where stronger collaboration between Thailand and Vietnam can create lasting value—not only for investors, but also for businesses, communities, and the broader ASEAN economy.

By building on each other’s strengths, our two countries can attract higher-quality investment, strengthen ASEAN’s competitiveness, and create sustainable growth for the region.

At WHA, we are proud to contribute to this vision by developing infrastructure that enables industries to grow, communities to prosper, and economies to become more resilient.

As Thailand and Vietnam celebrate 50 years of diplomatic relations, I hope the next chapter of our partnership will be defined not by competition, but by collaboration.

Because in today’s world, lasting competitiveness is built not by standing alone, but by growing stronger together.