Central Group, the country's biggest retail conglomerate, plans to expand its retail, hospitality and property development businesses in Vietnam.
It will develop its own hotels and shopping malls in the neighbouring country.
Central's current retail operations in Vietnam include the Nguyen Kim appliance chain, Lan Chi Mart supermarkets, Big C hypermarkets and the Robins department store.
Jariya Chirathivat, a representative of Central Group, said the group has potential to develop hotels and shopping complexes in Vietnam through joint ventures with local partners.
"We can transfer our property and hospitality know-how and experience to Vietnamese partners to grow the business together," she said.
Central operates the Sandy Beach Hotel in Danang under a management contract.
It plans to open four or five new Big C, Nguyen Kim and Lan Chi Mart stores each year.
The group operates 14 Lan Chi Mart supermarkets in Vietnam and will focus on opening new stores outside major cities, while city areas will belong to Big C hypermarkets.
"There is huge potential to expand our retail business in Vietnam. The Vietnamese economy is now about 30% of the Thai economy, up from 10% in the past 20 years," Ms Jariya said.
Retail laws in Vietnam are not clear for foreign investors. However, Central's expansion in Vietnam will be easier for Thai investors after the establishment of the Thailand Plus team, a working team involving representatives of the Vietnamese and Thai governments.
Since 2011, Central has opened Supersport, Crocs and New Balance stores in Hanoi. In 2014, it opened Robins department stores in Hanoi and Ho Chi Minh City.
About 80-90% of retail business in Vietnam belongs to traditional trade and most of the Vietnamese population are young people with high spending power.
In January 2015, Central joined hands with Nguyen Kim Trading, Vietnam's largest retailer of electronics and electric appliances, to operate the electrical appliance chain. It also invested in Lan Chi Mart, a famous supermarket chain in the north of Vietnam founded in 1995.
Central this year acquired Big C Vietnam for €920 million. The takeover of Big C Vietnam gave Central 43 branches comprising 33 hypermarkets and 10 convenience stores.
It also took over online fashion retailer Zalora's businesses in Vietnam.