Vinh Phuc looks for investment from India
A delegation from the northern province of Vinh Phuc, together with the
Vietnamese Embassy in India and the Federation of Indian Export
Organizations (FIEO), held a meeting with Indian enterprises in New
Delhi on September 5 to call for investment in the Vietnamese province.
A delegation from the northern province of Vinh Phuc, together with the
Vietnamese Embassy in India and the Federation of Indian Export
Organizations (FIEO), held a meeting with Indian enterprises in New
Delhi on September 5 to call for investment in the Vietnamese province.
FIEO’s CEO Ajay Sahai said Vietnam is a potential market for Indian exporters particularly when the comprehensive partnership between two countries is growing strongly on the back of the close traditional ties.
Introducing the strength and potentials of Vinh Phuc, Secretary of the provincial Party Committee Pham Van Vong stated that the province’s biodiversity, convenient transport and a hardworking and creative workforce are just some of the many features that make Vinh Phuc the ideal location for foreign investors.
Currently, Vinh Phuc has attracted 167 foreign direct investment (FDI) projects from 14 countries and territories, worth close to 3 billion USD.
Vong emphasized that many foreign corporations have established their presence in the province, for example Honda and Toyota (Japan); Piaggio (Italy); De Hus (Netherlands); Foxconn, Compal (Taiwan, China); Daewoo, Sindoh (the Republic of Korea), adding that Minda company of India has invested in two projects in Vinh Phuc.
He announced that foreign investors in the province will be entitled to several local incentives besides those stipulated in government’s regulations, such as vocational training and project’s documentation fee support and assistance in labour recruitment.
Minister Counsellor of the Embassy of Vietnam in India Tran Quang Tuyen also affirmed that Vietnam and India’s trade and economic relations are expanding rapidly.
Since 1988, Indian investors have invested in 80 FDI projects in Vietnam, valued at a total of 2.1 billion USD, putting the country at the 12th position among 100 countries and territories investing in the country.
The first half of 2014 saw three Indian investment projects worth 750,000 USD licensed in Vietnam.
Bilateral trade between two states rose to 8.03 billion USD in 2013 from just 2.36 billion USD back in 2010.-VNA
FIEO’s CEO Ajay Sahai said Vietnam is a potential market for Indian exporters particularly when the comprehensive partnership between two countries is growing strongly on the back of the close traditional ties.
Introducing the strength and potentials of Vinh Phuc, Secretary of the provincial Party Committee Pham Van Vong stated that the province’s biodiversity, convenient transport and a hardworking and creative workforce are just some of the many features that make Vinh Phuc the ideal location for foreign investors.
Currently, Vinh Phuc has attracted 167 foreign direct investment (FDI) projects from 14 countries and territories, worth close to 3 billion USD.
Vong emphasized that many foreign corporations have established their presence in the province, for example Honda and Toyota (Japan); Piaggio (Italy); De Hus (Netherlands); Foxconn, Compal (Taiwan, China); Daewoo, Sindoh (the Republic of Korea), adding that Minda company of India has invested in two projects in Vinh Phuc.
He announced that foreign investors in the province will be entitled to several local incentives besides those stipulated in government’s regulations, such as vocational training and project’s documentation fee support and assistance in labour recruitment.
Minister Counsellor of the Embassy of Vietnam in India Tran Quang Tuyen also affirmed that Vietnam and India’s trade and economic relations are expanding rapidly.
Since 1988, Indian investors have invested in 80 FDI projects in Vietnam, valued at a total of 2.1 billion USD, putting the country at the 12th position among 100 countries and territories investing in the country.
The first half of 2014 saw three Indian investment projects worth 750,000 USD licensed in Vietnam.
Bilateral trade between two states rose to 8.03 billion USD in 2013 from just 2.36 billion USD back in 2010.-VNA
You should also see
PM raises proposals for ASEAN to become global digital transformation model
Prime Minister Pham Minh Chinh on April 23 proposed breakthrough orientations to make ASEAN a model in digital transformation globally, while co-chairing a business roundtable with his Lao counterpart Sonexay Siphandone in Hanoi.
See more
Business
Lao Cai province calls for more Japanese investments
The advantages and potential of Vietnam’s northern border province of Lao Cai were introduced to Japanese firms at an investment and tourism promotion conference in Tokyo on April 23.
Business
Vietnam’s economy shows gradual recovery: WB’s report
Vietnam's economy is showing mixed signs of recovery in early 2024, with growth forecast to reach 5.5% in 2024 and gradually rise to 6.0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released on April 23.
Business
Tra fish export to UAE jumps 67% in Q1
Vietnam’s tra fish export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year, statistics of the General Department of Customs showed.
Business
Central bank successfully auctions 3,400 taels of SJC-branded gold bars
The State Bank of Vietnam (SBV) released the outcome of the gold bullion auction on April 23, with two winning bidders securing 34 lots, equivalent to 3,400 taels of SJC-branded gold bars.
Business
Masan completes 250-million-USD investment deal with Bain Capital
Masan Group Corporation on April 23 announced that it has completed the mobilisation of 250 billion USD from Bain Capital, a leading global private investment firm with assets worth 180 billion USD under management.
