The Thailand-Vietnam Business Council and the Joint Foreign Chambers of Commerce in Thailand (JFCCT) have teamed up to help Thai investors in Vietnam, Indonesia and Myanmar.
Sanan Angubolkul, president of the Thailand-Vietnam Business Council and chairman of Srithai Superware Plc, said the council is planning to set up a Thailand Plus team in Vietnam.
The team will gather representatives from both government and the private sector to support Thai investors and help them navigate Vietnamese laws and regulations.
The Board of Investment (BoI) has also been invited to join the Thailand Plus team.
Stanley Kang, chairman of the JFCCT, said the Thailand Plus team in Vietnam will start operations next month, with the BoI joining the team next year.
Mr Kang said Thailand Plus also envisions a presence in Indonesia and Myanmar, two other rising star destinations for Thai investment.
"The Thailand Plus team will first set up in Vietnam as the business opportunities there are huge," said Mr Sanan.
Vietnam's Ministry of Investment Planning said Thailand was ranked seventh in terms of investment in Vietnam during the first seven months of this year, up from 11th last year.
Bilateral trade also continues to rise and is expected to reach US$14 billion this year, up 7% from last year.
The council expects that through support measures, the value of bilateral trade between Vietnam and Thailand will reach $20 billion by 2020.
Though the value of investment from Thailand into Vietnam continues to increase, Thai investors have faced some problems including regulatory changes. Thailand Plus is intended to help manage such issues.
Meanwhile, the Thailand-Vietnam Business Council is co-hosting the biggest ever exhibition of Vietnamese goods in Thailand, which is scheduled to end Sunday at CentralWorld.
The event includes product exhibitions, seminars and networking activities to foster improved trade and investment between the two countries.
Mr Kang said Vietnam has huge investment opportunities for Thai investors because the Vietnamese government has already decided to ratify the Trans-Pacific Partnership (TPP) trade deal, which will help eliminate barriers for the 12 member countries.
With the TPP, Thai investors who invest in Vietnam will not only see business expansion chances in Vietnam but also burgeoning export opportunities around the world.
Mr Kang added that with its young population, Vietnam's workforce remains robust.