Within the framework of the 2024 Namaste Vietnam Festival, the seminar about investment and connecting Vietnam – India Enterprises took place in Ho Chi Minh City, aiming to promote new cooperation opportunities between businesses of the two countries in many fields.
The event attracted the participation of representatives of the Punjab state government (India) and 100 businesses from both sides, operating in fields such as: agricultural products – food, construction materials, chemicals, pharmaceuticals, general trade, mechanical engineering, garment, information technology, etc.
Through the B2B business connection session at the seminar (on August 26), businesses of the two countries had the opportunity to find new partners and new business relationships.
According to Tran Ngoc Liem, General Director, Vietnam Chamber of Commerce and Industry (VCCI) – HCMC Branch, after more than 50 years of establishing diplomatic relations, the relationship between Vietnam and India has always been of interest to the two governments and has been constantly strengthened in all fields. In terms of trade relations, India is among the top 10 trade partners of Vietnam. Vietnam is considered an important country in India’s “Look East policy”, and in the top 4 ASEAN countries with trade relations with India. This is demonstrated through the multi-dimensional cooperation between the two countries in recent years.
In the first 6 months of 2024, bilateral trade turnover between the two countries reached USD7.18 billion, an increase of 2% over the same period in 2023. Of which, export turnover from Vietnam to India is estimated at USD4.37 billion. Items with large export turnover include phones of all kinds and components, computers, electronic products and components, machinery, equipment, other spare parts, chemicals, coffee. In general, the structure of import and export items between Vietnam and India is balanced and complementary to each other.
Regarding investment, as of April 2024, India has 402 investment projects in Vietnam with a total registered capital of USD1.021 billion, ranking 26th out of 141 countries and territories investing in Vietnam. India’s investment projects mainly focus on the fields of biotechnology, automation technology, new material technology, clean energy, etc.
Mr. Liem said: “The two countries have set a goal of soon bringing the two-way trade turnover to 20 billion USD in the near future. To realize this goal, Vietnam and India need to further strengthen cooperation in areas where both sides have strengths, competitive advantages and support each other such as: mining, chemicals, textiles, footwear, energy, healthcare – pharmaceuticals, supporting industries, machinery and equipment, auto parts, agricultural machinery and information technology.”
“Vietnam and India have signed the Agreement on Avoidance of Double Taxation, the Agreement on Promotion and Protection of Investment, and the Agreement on Trade and Economic Cooperation. Hence, there is still a lot of room to enhance bilateral investment and trade cooperation in the coming time,” Mr. Liem added.
Dr. Madan Mohan Sethi, Indian Consul General in HCMC, said: “The potential for India and Vietnam to collaborate in textiles, food or logistics, pharmaceuticals, and many other sectors is immense. By forging strong partnerships and leveraging our respective strengths, we can create a mutually beneficial relationship that drives growth, innovation, and prosperity.”
“Together, we can pave the way for a brighter, more interconnected future. I look forward to the discussions, partnerships, and successes that will emerge from this seminar,” he added.
Nguồn: congthuong.vn