New Delhi, April 26
H.E. (Mr.) Pham Sanh Chau, the Ambassador of the Socialist Republic of Viet Nam to India, on Thursday, had a fruitful interaction with Indian Industry at the diplomatic mission in New Delhi. The interaction was organised by The Policy Times (https://thepolicytimes.com) and The Embassy of the Socialist Republic of Viet Nam, New Delhi with support from Centre for Vietnam Studies, New Delhi and Indian Importers Chambers of Commerce and Industry (IICCI).
The Interaction was a brainchild of the Ambassador Chau and his willingness to reach out and partner with Indian industry to further bilateral relations. The interaction broadly touched upon six important sectors – textiles, pharmaceuticals, automobiles, wind & solar energy, infrastructure, and aviation.
How India Inc. can leverage the ‘Viet Nam: A Rising Star in Asia’ was the focus of discussion.
In his special address, the Chief Guest of the evening, Dr. Vo Tri Thanh, an outstanding economist from Viet Nam, Chair-Vietnamese Committee for The Pacific Economic Cooperation Council (PECC) and senior expert, The Central Institute for Economic Management (CIEM), Viet Nam said, “strategic and geographical location in a dynamic Asia-Pacific region, close to global manufacturing value chain, young population of which 60% are 35 years old, low labor cost, growing domestic market with growing middle class, China + 1 investment strategy by foreign investors, and strong commitment for macroeconomic stability and further reforms make Viet Nam a perfect destination for Indian investors.”
H.E. (Mr.) Pham Sanh Chau, in his ‘Welcome and Keynote Speech’, stated that politically, India and Viet Nam enjoy strong relationship. There are 14 mechanism to strengthen bilateral relations. Culturally, Buddhism links and binds India and Viet Nam closely since time immemorial. Connectivity wise, Indigo will start direct flights between India and Viet Nam.
His Excellency said, “While we have $11.5 billion bilateral trade, investment is about $1 billion which can be increased further.”
In his remarks, Mr. Nguyen Thanh Ha, Chairman, Tam Viet Investment Advisory, highlighted the potential investment opportunities in hospitality, energy, and pharmaceutical sectors that Indian investors can explore.
While moderating the interaction, Mr. Akram Hoque, founder editor, The Policy Times, emphasized that purpose of the interaction should lead to some cross-border investment projects. Hoque said, “While there is a Comprehensive Economic Partnership Agreement (CEPA) in place, Viet Nam’s membership to many mega-regional, regional trading blocs such as Regional Comprehensive Economic Partnership (RCEP), the Comprehensive and Progressive Trans-Pacific Partnership (CP-TPP), ASEAN, etc. make it a gateway for Indian investors to explore world’s leading markets.”