Vinh Long promotes investment and trade cooperation with Indian enterprises

The conference aims to create conditions for Indian enterprises to access projects, explore investment and trade opportunities in Vinh Long province; at the same time, strengthen cooperation between the two sides in the coming time.

On the morning of March 5, at the Vinh Long Provincial Convention Center, the Vinh Long Provincial People's Committee coordinated with the Consulate General of India in Ho Chi Minh City to organize a conference to promote cooperation between Indian enterprises and Vinh Long province.

The conference is a practical event to celebrate the 52nd anniversary of the establishment of diplomatic relations between Vietnam and India (January 7, 1972 - January 7, 2024), and is an opportunity for Vinh Long province to introduce its potential, advantages, and investment support policies to Indian partners.

The conference includes a plenary session and two discussion sessions with topics on trade - investment,education - tourism - information technology and healthcare.

Standing Vice Chairman of Vinh Long Provincial People's Committee Dang Van Chinh said that the conference aims to create conditions for Indian enterprises to access projects and learn about investment and trade opportunities in Vinh Long province.

Speaking at the opening of the Conference, Permanent Vice Chairman of Vinh Long Provincial People's Committee Dang Van Chinh said that this Conference will create conditions for Indian enterprises to access projects, learn about investment and trade opportunities in Vinh Long province; is an opportunity for all parties to share visions, seek opportunities and strengthen cooperation in the coming time.

With the available potential, with the affection and desire that the cooperative relationship between Vietnam and India will continue to develop sustainably in all fields, Vinh Long province is ready to cooperate with Corporations, Associations, Unions, economic organizations, and Indian enterprises to develop together, benefit together in the trend of integration with the international economy and I believe that we will reap many good successes.

Mr. Dang Van Chinh said that one of the top priorities of the province at present is to focus on attracting investment and trade in line with the development orientation of the province, especially focusing on attracting investment projects in infrastructure of industrial parks and clusters, in the fields of health, pharmaceuticals, human resource training, industry, tourism and high-tech agriculture, creating higher added value in production as well as meeting the needs of investors, including Indian enterprises and corporations.

On the Indian side, Indian Consul General in Ho Chi Minh City Madan Mohan Sethi highly appreciated the potential of Vinh Long province and said that this place is not far from Ho Chi Minh City, the infrastructure is ready, very convenient for Indian investors.

Indian businesses and investors visit booths displaying typical products of Vinh Long province within the framework of the Conference.

Mr. Madan Mohan Sethi shared: “Based on the warm and good relationship between Vietnam and India in the past time, in my position, I will do everything to connect Indian businesses to Vietnam, including Vinh Long province, to invest in areas where the two sides have potential for cooperation such as: Education, healthcare, agricultural machinery manufacturing…”

Similarly, Mr. Prakash Babu Katarapu, Vice Chairman of the Economic Development Committee of Andhra Pradesh State (India) also commented that there are many opportunities and potentials for cooperation between Vinh Long and India, especially in: Healthcare, education, aquaculture, food processing, garments, etc. According to him, the potential is there, but to realize it into concrete results, the two sides need to have many visits, exchanges, connections, and sharing to better understand each other's needs, thereby promoting and boosting investment projects and trade activities to cooperate and develop together.

In his closing speech at the Conference, Permanent Vice Chairman of Vinh Long Provincial People's Committee Dang Van Chinh reaffirmed that "Vinh Long always welcomes and accompanies Indian enterprises and investors who have, are and will invest in Vinh Long, creating the most favorable conditions to connect Enterprises - Enterprises, Enterprises - Governments to develop sustainable trade and investment commensurate with the potential, advantages and good relationship between the two sides".

Since 2010, India has been consistently among Vietnam's top 20 trading partners. Two-way trade between Vietnam and India increased from 2.75 billion USD in 2010 to 14.36 billion USD in 2023. In terms of investment, by 2023, India had over 390 investment projects in Vietnam with a total registered capital of over 1.1 billion USD.

Particularly for Vinh Long province, in 2023, the province's export turnover to the Indian market reached about 1.33 million USD, accounting for about 0.2% of the province's total export turnover, with the main export items being: shoes of all kinds, garments. Import turnover reached about 2 million USD, accounting for 0.6% of the province's total import turnover with the items: raw materials for pharmaceutical production, raw materials for animal feed production (DDGS rice).

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