With the foundation of the Vietnam - India Comprehensive Strategic Partnership developing well, two-way trade turnover grew from 200 million USD in 2000 to nearly 15 billion USD in 2023, of which Vietnam's export turnover to India reached 8.5 billion USD and import reached 5.9 billion USD.
India has 410 valid projects with a total registered capital of 1.03 billion USD, ranking 25th out of 146 countries and territories investing in Vietnam. Meanwhile, Vietnam has invested in India in 16 projects with a total investment capital of more than 14 million USD, not including Vingroup 's investment in India.
According to VNA, at the forum, delegates and business communities of the two countries were introduced to the potential, strengths, and investment cooperation desires of each side; at the same time, solutions were proposed to promote cooperation between the two countries, especially in areas where both sides have potential and strengths such as infrastructure, electronics, telecommunications, biotechnology, pharmaceuticals, renewable energy, green economy, digital economy, artificial intelligence (AI), semiconductors, new materials, automobile manufacturing, aviation, tourism, etc.
Speaking at the Forum, Prime Minister Pham Minh Chinh said that after nearly 40 years of renovation, Vietnam has become one of the 40 largest economies in the world, among the top 20 trading countries, ranked 32nd in the top 100 strongest national brand values in the world; and has signed 16 FTAs with more than 60 countries.
After more than five decades of establishing diplomatic relations, upgrading the relationship between the two countries to Comprehensive Strategic Partnership has opened up new cooperation space in value chains and strategic resources, economic security, response to climate change, environment, science and technology, financial connectivity, high-quality human resources, education, national security and defense, etc.
The Prime Minister emphasized: “The good traditional relationship and friendship between the two peoples and two countries; high political trust, open market; similar culture, civilization, history, shared ideas; and shared aspiration to build a strong, prosperous country with fast and sustainable economic development” are the five fundamental factors for businesses of the two countries to come together, cooperate successfully and effectively, contributing to fostering the relationship between the two countries.
Regarding the socio-economic situation and investment environment of Vietnam, Prime Minister Pham Minh Chinh said that Vietnam's investment and business environment has been constantly improving. The United Nations Conference on Trade and Development (UNCTAD) has ranked Vietnam among the Top 20 countries attracting FDI in the world. Many prestigious international organizations and experts continue to highly appreciate the results and prospects of Vietnam's economy.
Believing that the bilateral economic cooperation between the two countries is not commensurate with their potential; with the spirit of "If you want to go fast, go alone, if you want to go far, go together", "work together, win together", so that the Vietnam - India relationship goes deeper and more substantial, Prime Minister Pham Minh Chinh requested Indian ministries, branches and associations to support and promote dialogue and investment connection activities, to be an extension between the governments and business communities of the two countries; create conditions for Vietnamese enterprises to expand investment and do business effectively in India; create favorable conditions for many Vietnamese goods to access the Indian market.
The two sides will promote and implement effective measures to achieve the target of bilateral trade turnover reaching 20 billion USD in the coming time; continue to strengthen official development assistance (ODA); continue to closely cooperate and support each other in international and regional forums of mutual interest; support and create favorable conditions to soon open more direct flights between Vietnam and India.
Prime Minister Pham Minh Chinh hopes that Indian corporations and enterprises will continue to invest and expand their investment in Vietnam, cooperate in training high-quality human resources, especially in the fields of semiconductors, science and technology, innovation, digital transformation, green transformation (hydrogen), renewable energy pharmaceuticals, biotechnology, etc.; pay attention to supporting and creating conditions for Vietnamese enterprises to participate in the value chain of corporations, especially in fields where Vietnam has potential; consider Vietnam a strategic destination for building Research and Development (R&D) Centers and applying high technology; regularly make recommendations and advise the government, ministries, branches and localities to remove barriers in the production and business process and perfect policies and institutions to improve the investment and business environment, smart management and human resource training.
Prime Minister Pham Minh Chinh emphasized that in the spirit of “harmonious benefits, shared risks”, “what is said must be done, what is committed must be done, what is done must have measurable results”, the Vietnamese Government is committed to always listening, accompanying, supporting and creating all favorable conditions for foreign investors in general and Indian investors in particular to invest and do business conveniently, effectively and sustainably in Vietnam.
* At the forum, under the witness of Prime Minister Pham Minh Chinh and leaders of ministries, branches and businesses of the two countries, 6 cooperation agreements were signed in the fields of aviation, tourism, culture, pharmaceuticals... In which, SOVICO Group and Adani Group signed a cooperation agreement in the fields of aviation, airports and logistics; Vietnam Airlines cooperated with Indian partners in promoting Vietnamese culture, country and people in India...
* Within the framework of the Vietnam - India Business Forum, witnessed by Prime Minister Pham Minh Chinh and leaders of ministries, sectors and businesses of the two countries, Vietjet Air announced the Da Nang - Ahmedabad (India) route and welcomed its 200 millionth passenger.
Previously, on the morning of July 31, during his State visit to India, in the capital New Delhi, Prime Minister Pham Minh Chinh worked with leaders of leading Indian corporations in the fields of infrastructure and pharmaceutical technology, calling for investment in large, high-tech projects with spillover effects in Vietnam.
According to VNA
Source: https://www.sggp.org.vn/5-yeu-to-nen-tang-de-doanh-nghiep-viet-nam-an-do-hop-tac-thanh-cong-post751886.html
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