Vietnam
Vietnam wants stronger Indian investment, says Deputy PM
The two nations aim to raise bilateral trade to US$15 billion in the coming time from US$7.63 billion in 2017.
Vietnam wants Indian businesses to invest more strongly in a wide range of areas in Vietnam, stated Deputy Prime Minister Trinh Dinh Dung at the 2018 Vietnam - India Business Forum under the theme “Strengthening strong cooperation to promote economic integration” on November 19.
The event is part of Indian President Ram Nath Kovind’s State visit to Vietnam, from November 18 to 20.
The deputy PM encouraged Indian businesses to ramp up investment in the Vietnamese market, especially in the fields of renewable energy, manufacturing, public works, information technology and infrastructure construction.
The two countries need to strengthen connectivity both in bilateral and regional mechanisms, connecting infrastructure such as air, road, maritime and digital connections, he added.
Deputy Prime Minister Trinh Dinh Dung stressed that Vietnam wants to promote more comprehensive and effective cooperation with India on the basis of mutual support and maximizing the the potential of each country.
To lift bilateral trade to US$15 billion in the coming time from US$7.63 billion in 2017, the two sides need to increase investment in the areas of strength of India and Vietnam is in need, promote air and sea connectivity, and gradually remove trade barriers, create facilitating import and export between the two countries, the Vietnamese official said.
According to Deputy Prime Minister Trinh Dinh Dung, the initiatives “Make in India”, “Digital India”, “100 smart cities” will create more opportunities for cooperation, investment and business for businesses of the two countries.
On his side, Indian President Ram Nath Kovind said that Vietnam and India share the same vision and approach on economic development. He congratulated Vietnam on the great socio-economic achievements and impressive growth over the past two decades, with the poverty rate falling from 70% in the 1990s to under 10% currently.
Indian President Ram Nath Kovind asserted that the surge in GDP per capita from from US$100 in the 1990s to US$2,000 today is one of the great achievements of Vietnam.
President Nod Kovind said that the two countries could cooperate in the fields of information technology and digital economy, renewable energy, medicine and civil aviation.
President Ram Nath Kovind asserted that Vietnam is one of India's important trading partners in Southeast Asia and India is also among Vietnam's leading markets. Agriculture is an important field of cooperation between the two countries. Indian farming could learn experiences from Vietnam in the fields of coffee, cashew nuts, fruits and vegetables cultivation.
On its part, the pharmaceutical industry in India could also help Vietnam improve the quality of its health sector. Indian pharmaceutical companies look forward to opening up drug factories in Vietnam. Indian companies are ready to cooperate with Vietnam in the areas of innovative energy, information technology, digital economy, etc.
Also within the framework of the forum, representatives from Indian and Vietnamese businesses discussed issues related to opportunities for cooperation in the field of agriculture, agro-processing, agro-chemical, food, food processing; the medical and pharmaceutical sectors; energy, renewable energy, petroleum and infrastructure; services, information technology, communications, education, aviation and tourism, etc.
The event is part of Indian President Ram Nath Kovind’s State visit to Vietnam, from November 18 to 20.
Indian President Ram Nath Kovind. Photo: Ha Phuong
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The two countries need to strengthen connectivity both in bilateral and regional mechanisms, connecting infrastructure such as air, road, maritime and digital connections, he added.
Deputy Prime Minister Trinh Dinh Dung stressed that Vietnam wants to promote more comprehensive and effective cooperation with India on the basis of mutual support and maximizing the the potential of each country.
To lift bilateral trade to US$15 billion in the coming time from US$7.63 billion in 2017, the two sides need to increase investment in the areas of strength of India and Vietnam is in need, promote air and sea connectivity, and gradually remove trade barriers, create facilitating import and export between the two countries, the Vietnamese official said.
According to Deputy Prime Minister Trinh Dinh Dung, the initiatives “Make in India”, “Digital India”, “100 smart cities” will create more opportunities for cooperation, investment and business for businesses of the two countries.
On his side, Indian President Ram Nath Kovind said that Vietnam and India share the same vision and approach on economic development. He congratulated Vietnam on the great socio-economic achievements and impressive growth over the past two decades, with the poverty rate falling from 70% in the 1990s to under 10% currently.
Indian President Ram Nath Kovind asserted that the surge in GDP per capita from from US$100 in the 1990s to US$2,000 today is one of the great achievements of Vietnam.
President Nod Kovind said that the two countries could cooperate in the fields of information technology and digital economy, renewable energy, medicine and civil aviation.
President Ram Nath Kovind asserted that Vietnam is one of India's important trading partners in Southeast Asia and India is also among Vietnam's leading markets. Agriculture is an important field of cooperation between the two countries. Indian farming could learn experiences from Vietnam in the fields of coffee, cashew nuts, fruits and vegetables cultivation.
On its part, the pharmaceutical industry in India could also help Vietnam improve the quality of its health sector. Indian pharmaceutical companies look forward to opening up drug factories in Vietnam. Indian companies are ready to cooperate with Vietnam in the areas of innovative energy, information technology, digital economy, etc.
Also within the framework of the forum, representatives from Indian and Vietnamese businesses discussed issues related to opportunities for cooperation in the field of agriculture, agro-processing, agro-chemical, food, food processing; the medical and pharmaceutical sectors; energy, renewable energy, petroleum and infrastructure; services, information technology, communications, education, aviation and tourism, etc.
