Minister of Planning and Investment Nguyen Chi Dung said that Prime Minister Pham Minh Chinh's state visit to India from July 30 to August 1 is very meaningful in the current context.
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| Prime Minister Pham Minh Chinh's State visit to India opens a new phase in development cooperation, especially in economics, trade and investment... (Source: MPI) |
According to Minister Nguyen Chi Dung, the trip opens a new phase in development cooperation, especially in economics, trade and investment; at the same time promoting and deepening the comprehensive strategic partnership between the two countries.
Currently, the trade turnover between the two countries has not been commensurate with their potential and advantages. Specifically, the two-way trade turnover has not reached 15 billion USD, and India's investment in Vietnam has not reached 1 billion USD.
"I think that the potential advantages of the Indian and Vietnamese markets have not been fully exploited," the Minister emphasized.
In 2016, at the G20 Summit, the Indian Prime Minister declared that he considered Vietnam an important partner in the country's Eastward strategy. Therefore, there is still a lot of room and potential for cooperation between the two countries.
Regarding the capabilities of Indian enterprises, Minister Nguyen Chi Dung assessed that they are very strong in science and technology, innovation, biotechnology, pharmaceuticals, energy, manufacturing, and agriculture.
If the economies of the two countries complement each other, they will build a high value chain, not only serving the Indian and Vietnamese markets but also expanding participation in the global market. This is also the direction that the two Prime Ministers suggested through this state visit.
During this visit, Prime Minister Pham Minh Chinh met with many large corporations in important fields such as infrastructure, digital transformation, pharmaceuticals, energy, oil and gas, tourism, and other fields...
Among them, the most prominent event was the Business Forum between the two countries. In a short time, with the support of the Vietnamese Embassy in India and the Federation of Indian Chambers of Commerce and Industry, the Ministry of Planning and Investment successfully organized this forum with the participation of more than 300 enterprises, which are Indian enterprises interested in the Vietnamese market in various fields, in line with our policy of encouraging selective investment.
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| Prime Minister Pham Minh Chinh met with many large corporations in important fields such as infrastructure, digital transformation, pharmaceuticals, energy, oil and gas, tourism, and other fields... (Photo: Nguyen Hong) |
In the coming time, according to the Minister of Planning and Investment, the two sides will actively implement the signed agreements, the memorandum of understanding (MOU) that have been exchanged as well as the Prime Minister's instructions as follows:
Firstly, two-way trade strives to double by 2030 compared to present, reaching approximately 30 billion USD.
Second , large pharmaceutical projects can be implemented immediately, building drug research and production centers to supply the world. "These are very potential projects," Minister Nguyen Chi Dung assessed.
Third, with the Lien Chieu Port project in Da Nang, construction of logistics and oil and gas centers, etc., the Prime Minister has directed the immediate establishment of working groups to work with Indian enterprises in the process of researching and preparing project documents, helping them quickly comply with Vietnamese laws but shortening the time, and soon deploying investment attraction from India to Vietnam.
The Minister affirmed: "I am completely confident that with the Prime Minister's direction and our active preparation, trade and investment between the two countries will increase strongly in the coming time, and at the same time achieve the orientations set by the two leaders of the two countries at this meeting."
Source: https://baoquocte.vn/bo-truong-nguyen-chi-dung-thuong-mai-dau-tu-cua-viet-nam-va-an-do-se-tang-len-manh-me-281068.html
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