Business

Vietnam, India boost cooperation in trade, investment

A Vietnam-India business matching event was held in Hanoi on September 22, on the occasion of the Vietnam visit by 42 enterprises of the India-Vietnam Chamber of Commerce and Industry (IVCCI).
Vietnam, India boost cooperation in trade, investment ảnh 1A view of Vietnam-India business matching (Photo: VNA)
Hanoi (VNA) – A Vietnam-India business matching event was held in Hanoion September 22, on the occasion of the Vietnam visit by 42 enterprises of theIndia-Vietnam Chamber of Commerce and Industry (IVCCI).

Speaking at the event, Vice President of the Vietnam Chamberof Commerce and Industry (VCCI) Nguyen Quang Vinh appreciated the working visitof the Indian business delegation, which took place just ahead of the 50th anniversary celebrationof the establishment of diplomatic relations between the two countries later thisyear.

For Vietnam, India has always been a strategic partner intrade and has a lot of potential for cooperation; in which mechanics andengineering for production are an important part of bilateral trade.

IVCCI President Ajoykant Ruia said that with a stable economicand political environment, a young, abundant and highly skilled workforce, Vietnamis currently a safe and reliable destination.

Indian investors are really interested in expanding theirinvestment in Vietnam thanks to its strengths in supporting industries,mechanical engineering, garment and textiles, and footwear and to enjoyincentives from signed free trade agreements.

In 2021, Vietnam-India two-way trade turnover surpassed 13 billion USD. Thisyear, the two governments set a goal of raising the figure to 15 billion USD. Asof December 2021, India had 313 valid projects with a total registered capitalof 910 million USD, ranking 25th out of 140 countries and territories pouringcapital into Vietnam./.
VNA
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