Thai capital flows steadily into Vietnam, aiming for expansion

Thai investment in Vietnam is demonstrating a consistent and expanding presence, solidifying Thailand's position as a key foreign investor. As of April 2026, Thai enterprises have established 804 active projects in Vietnam, with a registered capital exceeding $15.4 billion. This figure represents a notable increase from the over $14 billion reported at the end of 2024.

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Thai businesses have 804 projects with valid licenses in Vietnam with a total registered capital of over $15.4 billion.

Within the ASEAN bloc, Thailand ranks as the second-largest investor in Vietnam, trailing only Singapore. This strong economic relationship is underscored by several large-scale investment deals in recent years. ThaiBev, a leading Thai beverage group, made a significant impact in 2017 with its indirect acquisition of a 53.6% stake in Sabeco for approximately $4.8 billion. More recently, Fraser and Neave (F&N), part of the ThaiBev ecosystem, increased its stake in Vinamilk to 24.99% with an investment of about 6 trillion Vietnamese dong.

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In the ASEAN bloc, Thailand currently ranks second only to Singapore in terms of investment scale in Vietnam.

In the retail sector, BJC Group, under TCC Group, recently acquired MM Mega Market Vietnam for approximately 22.5 billion baht ($717 million). Central Retail, part of Central Group, operates a substantial network of supermarkets and hypermarkets across Vietnam. Its first-quarter 2026 financial report indicated that Vietnamese operations generated over 12 trillion Vietnamese dong in revenue, accounting for about 23% of the group's total revenue and marking a 26% year-on-year increase.

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ThaiBev - Thailand's leading beverage group - made a splash in 2017 by indirectly acquiring a 53.6% stake in Sabeco for about $4.8 billion.

Beyond consumer goods and retail, Thai capital is also flowing into Vietnam's industrial and energy sectors. SCG has invested over $7 billion in Vietnam over three decades, operating 28 companies and 50 factories. Its Long Son Petrochemical complex, a major project, is undergoing expansion. Amata, present in Vietnam since 1994, manages approximately 3,000 hectares of industrial land and plans to invest an additional $1.5 billion in industrial park projects. Thai energy companies, including Gulf Energy, B.Grimm, and Super Energy, are also increasing their presence in Vietnam's energy market.

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Central Retail's first-quarter 2026 financial report shows revenue from Vietnam reached over 12 trillion Vietnamese dong, accounting for about 23% of total revenue and increasing 26% compared to the same period last year.