Monday, June 2, 2025 6:15:17 AM - Markets open
VN-INDEX 1,332.60 -9.26/-0.69%
HNX-INDEX 223.22 -1.08/-0.48%
UPCOM-INDEX 98.49 -0.13/-0.13%
Vietnamese, Indian firms discuss co-operation in various sectors
vietnamnews - 7/19/2024 2:03:22 PM
 (0 ratings. You must sign in to rate.)
Vietnamese and Indian businesses have great potential for cooperation in various sectors, a networking event between them heard in HCM City on July 18.
 
 
Đào Minh Chánh, deputy general director of the Investment and Trade Promotion Centre of HCM City, speaks at a business networking between Indian and Vietnamese businesses in HCM City on July 18. — Photo courtesy of ITPC
 
Vietnamese and Indian businesses have great potential for cooperation in various sectors, a networking event between them heard in HCM City on July 18.
 
In his opening speech, Đào Minh Chánh, deputy general director of the Investment and Trade Promotion Centre of HCM City (ITPC), said trade between the two countries increased more than 60 times since 2010 to $14.36 billion in 2023, making India the eighth largest trading partner for Việt Nam.
 
In the first half of this year it was worth $7.18 billion, with Việt Nam’s exports to India estimated at $4.37 billion.
 
Chánh said: “India is always one of Việt Nam’s strategic trade partners. The two countries have immense potential to boost cooperation further, especially in the mechanical, electrical, electronic, digital technology, and energy industries, high export earners for both countries.
 
Both Vietnam and India are focused on developing these industries, he said.
 
“It’s a good time to further enhance co-operation in these sectors.”
 
He expected the two sides to find more import-export opportunities, which would help develop their comprehensive strategic partnership.
 
Trần Hoài Nam, vice chairman of the HCM City Association of Mechanical and Electrical Enterprises (HAMEE), said with their advantages such as strategic locations in Asia, young workforces, large markets, and fast-growing economies, the two countries could cooperate in sectors such as manufacturing, mechanical engineering, infrastructure, renewable energies, information technology, and scientific research.
 
Rohit Sharma, head of the ASEAN and Oceania Division Confederation of Indian Industry, said Việt Nam is an ideal investment destination for Indian companies, where they have invested over $2 billion directly or indirectly through third countries.
 
 
Indian visitors at booths displaying products from the mechanical, electrical - electronics, digital technology, and energy industries at a networking event for Indian and Vietnamese businesses in HCM City on July 18.— Photo courtesy of ITPC
 
He said Indian companies from India and elsewhere attending the business networking event uniformly expressed a desire to cooperate with Vietnamese firms in various sectors, such as technology, high-tech manufacturing, pharmaceuticals, healthcare, and tourism.
 
Automation and skill training also offer great cooperation opportunities for the two countries.
 
Prasannakumar R Shetti, chief representative – Indonesia of Schwing Stetter (India) Pvt Ltd., said his company is looking for dealers/distributors for its construction equipment and then would seek investment opportunities in Việt Nam.
 
Organised by ITPC in collaboration with the Indian consulate general in HCM City, CII and HAMEE, the event sought to connect Vietnamese and Indian businesses in industries such as paints and chemicals, agriculture and services, waste management, concrete equipment, infrastructure, construction, energy, IT and logistics, exchange experiences, update technologies, and explore opportunities to export their products to each other. — VNS
 
Read original article here
 
Newer News
31/05 Now or never: Việt Nam’s window to build a self-reliant, resilient economy
27/05 Foreign direct investment continues to pour into Việt Nam
27/05 Maritime transport maintains strong growth
26/05 Việt Nam offers investment potential amid global uncertainty
26/05 Enhancing presence of Vietnamese goods in ASEAN market is essential
20/05 Credit growth in HCM City hits $155b in first four months
16/05 Việt Nam’s plan to cut US car tariffs faces limited short-term impact
16/05 Việt Nam’s auto market gains momentum in early 2025
13/05 2025 FTA negotiation plan to be submitted in May
09/05 Fuel prices cut again
Older News
19/07 Bolster institutional investors and attract foreign capital: SSC
19/07 Vietnam's rice exports expected to have positive result in H2
19/07 Eleven million 2G phone subscribers to be turned off from September 16
19/07 Japan is the largest export market for Vietnamese coal
19/07 Pepper prices continue to decrease, but expect recovery by year end
18/07 Vietnam's logistics sector focuses on sustainable supply chain development
18/07 US cancels tax evasion probe into Vietnamese wooden cabinets
18/07 Providing safe good food into modern distribution channels is promoted
18/07 ADB keeps Vietnam's growth outlook unchanged
18/07 HCM City hosts major electrical technology, green energy expo
 
Newsletter Signup
Top Stories
Profit-taking pressure grows as market retreats
Open-end funds keep attracting capital inflows
Stock market upgrade expected by September
Stock market starts off May on a positive note as key stocks gain post-holiday
Việt Nam to launch KRX trading system on May 5
Market Update
Last updated at 3:46:08 PM
VN-INDEX 1,332.60 -9.26/-0.69%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.