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Investment
Dec 20, 2017 / 18:18

India businesses keen on investing in Vietnam

Anh Kiet - Huy chuong

A delegation from the Confederation of Indian Industry (CII) led by First Secretary of the Indian Embassy in Vietnam Rafiv Bodwade has paid a field trip to Binh Duong province of Vietnam to seek investment opportunities.

During a working session with representatives from the provincial People’s Committee on December 19, Rafiv Bodwade said Indian firms have noticed many investment opportunities in Vietnam, especially in Binh Duong – an industrial hub located in the southern key economic area. Indian enterprises give priorities to investing in the fields of agriculture, pharmaceutics and renewable energy, he stressed.
 
 
At the meeting
At the meeting
Vice Chairman of the provincial People’s Committee Tran Thanh Liem briefed the guests on the locality’s socio-economic development, noting that Binh Duong has 29 industrial parks and eight industrial clusters with a total area of over 10,000 ha. 

The locality has so far attracted 28.5 billion USD in foreign direct investment (FDI) from 3,360 enterprises, but Indian-run projects number only five with a total investment of 170 million USD, he said. Binh Duong is calling for investment in projects on large scale which use advanced technologies with less labour and create high added-value products, he added.

India has 134 investment projects worth 1.1 billion USD in Vietnam. Two-way trade in 2017 hit over 10 billion USD, year-on-year increase of 29 percent. The two nations aim to lift their trade to 15 billion USD by 2020.

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