Viet Nam, India share strategic, comprehensive partnership

Viet Nam, India share strategic, comprehensive partnership

Speaking at a press conference on Monday, Madan Mohan Sethi, Consul General of India in HCM City, said he has travelled to around 24 out of 29 provinces in Southern Viet Nam and has been amazed by the infrastructure development and opportunities available for cooperation in each of these provinces.

Bilateral trade reached around US$12.3 billion in 2019 from $200 million in 2000 and both sides have now committed to taking it to $15 billion at the earliest. Viet Nam is the 18th largest trading partner of India and 3rd among ASEAN countries. India is the 7th largest trading partner of Viet Nam, he said.

However, it is felt that there is a lot of untapped potential in this area. The COVID-19 crisis has given an opportunity to both sides to join hands and set up alternative global supply chains in different products that have been disrupted by the pandemic.

Sethi said Indian companies in infrastructure, food processing, energy, pharmaceutical, agriculture, IT, higher education, medical care, and automotive sectors can invest through partnerships with Vietnamese companies.

The consulate has been organising multiple trade and investment meetings with relevant agencies and different provinces to raise awareness about opportunities available in both countries.

The consul sees tremendous scope for cooperation in sectors of higher education and IT. With its world-class institutes, quality teaching, excellent academics and alumni in the corporate world, India has achieved huge success and international recognition in areas of higher education, R&D, IT and training.

“We hope to organise many physical meetings in the coming days once the pandemic is controlled and international travel resumes,” he said.

bizhub