Vietnam, India see ample room for trade, investment cooperation: Forum

23 Mar '22

1 min read

Pic: Shutterstock

Vietnam and India have enough scope to expand trade and investment cooperation, including in digital technology, e-commerce and retail, participants noted at the 2^nd Vietnam-India Business Forum in Ho Chi Minh City last week. Bilateral trade rose from $200 million in 2000 to over $13 billion in 2021 and the two sides are aiming for $15 billion this year.

The event was jointly organised by the Indian consulate general in the city, the Indian Chamber of Commerce (ICC) and the municipal Investment and Trade Promotion Centre (ITPC).

Indian Ambassador to the country Pranay Verma said bilateral trade and investment ties are not yet commensurate with the nations’ potential, and this is the perfect time to work on promoting cooperation toward better effectiveness, according to Vietnamese media reports.

As of February 2022, India ranked 25th out of 140 countries and territories investing in Vietnam with 315 valid projects worth more than $918 million, mostly in the processing industry, manufacturing, electricity production and distribution and mining.

On the other hand, Vietnam had nine investment projects, mainly wholesale and retail ones, in India, whose total value exceeded $6 million.

ALCHEMPro News Desk (DS)

More Indian Chamber of Commerce News... More Textiles News - Vietnam...