Conference organized by Lam Dong Provincial People's Committee in coordination with the Consulate General of India in Ho Chi Minh City, with the participation of Mr. Madan Mohan Sethi, Consul General of India in Ho Chi Minh City, leaders of 5 provinces of Lam Dong, Dak Lak, Dak Nong, Gia Lai, Kon Tum and 40 enterprises from India, 70 enterprises in the Central Highlands provinces.
Indian and Vietnamese businesses explore investment opportunities
Speaking at the conference, the Consul General of India in Ho Chi Minh City said that this was the first time more than 40 businesses from 8 states of India with fields ranging from agriculture, pharmaceuticals, agricultural machinery, information technology, tourism and education came to Da Lat City.
"I have been here for more than 3 years. I have been to more than 30 provinces and cities of Vietnam many times. What I see is opportunities everywhere in the fields of trade, investment and education, information technology, tourism and healthcare," the Indian Consul General in Ho Chi Minh City shared, adding that although the two countries have a bilateral trade turnover of 15.1 billion USD, it is below its inherent potential.
There are currently 50 flights a week connecting Hanoi and Ho Chi Minh City with the capital Delhi, Mumbai, Kolkata, Ahmedabad and Kochi, witnessing a leap forward not only in trade relations but also in tourism, cultural exchange and people-to-people exchanges.
Mr. Madan Mohan Sethi, Consul General of India in Ho Chi Minh City and Indian enterprises learn about Central Highlands agricultural products displayed at the conference.
Mr. Madan Mohan Sethi also informed that India provides a huge market comparable to China for Vietnam for many products. India has a large middle class, accounting for about 30% of the population. India has more than 46 cities with a population of more than 1 million people each; it is currently the fifth largest economy in the world and has great strengths in the fields of automobiles, pharmaceuticals, biotechnology, agriculture, textiles, chemicals, banking, finance, engineering and information technology.
Mr. Madan Mohan Sethi emphasized to the Indian businessmen that Lam Dong is a large province with strengths in agricultural products and tourism. The province has key industries: agricultural, forestry, and fishery processing, fertilizers, electricity production, and aluminum. The province is also an attractive tourist destination and has welcomed 7 million tourists in 2022, of which 150,000 are international tourists.
"I would like to invite businesses from both sides to exchange with each other and explore business and cooperation interests. I also invite agricultural companies from Lam Dong province to come to India to explore investment and business with Indian partners. With changes in geopolitics and reduced consumer demand from Europe, businesses from both sides need to strengthen their links. The Consulate General of India will continue to cooperate to organize events to promote trade, investment, tourism and cultural exchange in the near future," said Mr. Madan Mohan Sethi.
Previously, Mr. Madan Mohan Sethi and Indian enterprises surveyed a project in Lam Dong.
Mr. Pham S, Vice Chairman of Lam Dong Provincial People's Committee, said that in terms of trade cooperation, many key products of Lam Dong have been exported to the Indian market with main products such as: green coffee with an export value of 2.57 million USD; raw silk, spun silk, silk fabric with an export value of 38.2 million USD; aluminum oxide with an export value of 32.2 million USD; it is expected that these figures will continue to increase in 2023.
"Despite achieving such remarkable results, however, the cooperation between Lam Dong and India is not commensurate with its current potential and advantages. Lam Dong is a land rich in potential, especially with many advantages for agricultural development, ready to welcome investors and Indian businessmen to seek investment and trade cooperation opportunities. The province hopes to become a locality providing safe and quality agricultural products and processed foods to distribution channels in India," said Mr. S.
Through the conference, 45 enterprises from India and the Central Highlands provinces signed a memorandum of understanding/principle agreement on trade cooperation in providing agricultural products, tourism, education, healthcare, pharmaceuticals... between the two sides.
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