Vietnam is keen to enhance the collaboration with India in various areas, said Vietnamese President Tran Dai Quang during his visit to India in early March.
The statement was made on March 3 at the India-Vietnam Business Forum in New Delhi, a meeting attended by enterprises of the two countries in a number of fields such as information technology, communications, real estate, and garment.
Quang said Vietnam expects to boost and heighten the effectiveness of investment cooperation with India in activities in which the latter’s strengths lie, and Vietnam considers as necessary, like information technology, bio-technology, renewable energy and mechanical engineering.
The leader expressed his belief that India will rapidly become one of Vietnam’s largest investment partners thanks to the increasing interest in the Southeast Asian country from Indian companies, especially major corporations, over recent times.
He underlined that the “Make in India” economic development campaign initiated by Prime Minister Narendra Modi will provide Vietnamese businesses with more opportunities and favorable conditions when they invest or work in India.
He also emphasized that the goal of achieving the two-way trade of US$15 billion by 2020 is completely achievable, based on the two countries’ determination and their enterprises’ enthusiasm.
“We hope India becomes Vietnam’s supplier of materials for the industries of apparel, footwear, and machine building, and facilitates the penetration into its market by Vietnam’s goods, including agricultural products, seafood, wood products and footwear,” Quang said.
The president added Vietnam is willing to foster bilateral cooperation in tourism, especially spiritual and cultural tourism, with India, and step up promotional activities regarding the countries’ tourist potential.
India is one of Vietnam’s ten leading business partners, and Vietnam is India’s fourth-largest business partner in the Association of Southeast Asian Nations, of which Vietnam is a member.
Two-way trade between Vietnam and India has always increased since the ASEAN-India Trade in Goods Agreement was signed in 2009.