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Indian enterprises seek opportunities

Update: March, 08/2012 - 07:41

HCM CITY — Viet Nam and India have great potential for co-operation in many areas like energy, technology, pharmaceutical, healthcare, agriculture, and infrastructure, a business forum heard in HCM City yesterday.

The Federation of Indian Chambers of Commerce and Industry, the Indian consulate, and the Viet Nam Chamber of Commerce and Industry organised the Viet Nam-India Business Forum with visiting executives from nearly 20 Indian companies taking part.

Indian Minister of Commerce, Industry and Textiles Anand Sharma said Indian companies want to be active participants in these sectors in Viet Nam since they have experience and technological capability, and are willing to share their experiences and transfer technology.

He said the two sides should give top priority to co-operation in three important sectors — energy, food, and healthcare.

In the energy sector, for instance, fossil fuels would run out one day and so countries need to develop renewable energies, he said.

India has experience in this sector while Viet Nam has great potential in wind energy, he said. Besides, Indian companies are looking at Viet Nam as an entry point to the entire region, he added.

Vo Tan Thanh, director of the HCM City chapter of the Viet Nam Chamber of Commerce and Industry, said trade between the two countries had surged from US$72 million in 1995 to $3.9 billion last year.

Viet Nam exports coal, pepper, rubber, electrical products, and footwear to India, and imports animal feed, steel, iron, plastic products, drugs, and accessories and machinery for the garment and textile industries.

Le Phuoc Vu, chairman of steel company Hoa Sen Group, said to boost investment between the two countries, it is necessary to keep potential investors informed about policies and specific opportunities.

Indian companies with a presence in Viet Nam, like KCP Ltd, shared their business experiences here with their counterparts.

The forum saw Nguyen Thanh Xuan, deputy director of the HCM City Investment and Trade Promotion Centre, provide an overview of the potential and opportunities for business and investment in HCM City. — VNS

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