Roundtable discussion between Ministry of Planning and Investment and Indian Business Chamber in Vietnam (08/01/2017-22:19:00 PM)

(MPI) - On January 06th 2017, at the headquarters of the MPI, Roundtable discussion between the MPI and Indian Business Chamber in Vietnam (INCHAM) was taken place. Deputy Minister Nguyen Van Trung and Indian Ambassador Harish Parvathaneni co-chaired the Roundtable with the attendance of leaders of the units under the MPI and 21 Indian businesses doing their business in Vietnam.

In 2016, the two countries upgraded the bilateral relations to Comprehensive Strategic Partnership. In 2017, the two countries celebrate the 45 years of establishment of their diplomatic relations (07 January 1972 - 07 January 2017) and 10 years of Vietnam - India Strategic Partnership (06 July 2007 - 06 July 2017). Speaking at the Roundtable discussion, Deputy Minister Nguyen Van Trung highly appreciated the long lasting traditional friendship between the two countries and shared some information on socio-economic situation of Vietnam recently. Vietnam has faced many difficulties and challenges in 2016 due to the complicated weather, affecting to agricultural production. However, by the right and timely direction of all levels, branches and effective deployment of localities, GDP growth was 6.21% in 2016, inflation and public debt were curbed under the limitation set by the National Assembly.

Regarding investment cooperation, India has invested 132 projects in Vietnam with total registered capital of US$ 724 million, ranking 25 among 116 nations and territories investing in Vietnam. With available potentials and advantages, the Deputy Minister hoped that Indian investors would pay more attention to Vietnam's business climate, boosting investment cooperation, upgrading bilateral relations. The MPI committed to facilitate foreign investors in general and Indian investors in particular in the process of doing their business in Vietnam.

Ambassador Harish Parvathaneni highly appreciated the Roundtable discussion introducing opportunities of investment into Vietnam to Indian investors and the support of the Vietnamese MPI in the last time. Besides, India has intended to spend US$ 500 million of credit on investment in Vietnam in the next time. The Ambassador expressed his attention and desire to look for cooperative opportunities in pharma, health care, recycled energy, garment, footwear industry of Vietnam. He also suggested Vietnam to strengthen the export of fishery products and food of Vietnam to India towards the target of US$ 15 billion of two-way trade turnover by 2020.

At the Roundtable discussion, representative of INCHAM highly appreciated economic development, social welfares, the role and position of Vietnam in the international arena, and confirmed that India is always a trusted partner of Vietnam. Indian business community also discussed new policies of investment, business in Vietnam with MPI officers and looked for opportunities to expand cooperation and investment in the future./.