Thursday, April 2 2020


Viet Nam, India seek to bolster bilateral investment, trade

Update: February, 27/2020 - 14:38


Vietnamese Minister of Planning and Investment (left) and Indian Minister of State for External Affairs Shri V. Muraleedharan at the meeting. Photo courtesy of Vietnamese Embassy in New Delhi

NEW DELHI — India is a major trade partner and investor of Việt Nam and the two countries should spare no efforts to soon realise the target of bringing bilateral trade to US$15 billion.

This statement was made by Minister of Planning and Investment Nguyễn Chí Dũng during talks with his host Indian Minister of State for External Affairs Shri V. Muraleedharan on Tuesday, as part of his working visit to the country.

At the talks, Dũng spoke highly of India’s increasing position in the international arena and affirmed that the Việt Nam-India relations are thriving, voicing his hope that bilateral ties will be strengthened in the future.

Regarding India’s financial and scientific-technology potential, Dũng said that the nation’s investment in Việt Nam remains modest, adding that Việt Nam hopes to welcome more Indian investors in the future.

For his part, V. Muraleedharan pledged that India will closely collaborate with and support Việt Nam as the country is holding the role of the ASEAN Chairman in 2020 and a non-permanent member of the United Nations Security Council in 2020-21.

The host also affirmed that Việt Nam is a key partner in Southeast Asia and playing the role of a pillar in India’s Look East Policy.

The two officials also took note of existing difficulties in bilateral trade. That India adjusts floor rate and raises import tariffs on Viet Nam’s cashew nuts and imposes restriction on incense stick imports has caused difficulties for Vietnamese firms and producers, Dũng noted.

Meanwhile, V. Muraleedharan expressed his hope that Việt Nam will open its doors to Indian fruits and create favourable conditions for its pharmaceutical companies.

A roundtable between the Vietnamese minister and Indian businesses was held the same day, drawing nearly 100 leading firms including Essar, HCL and Mahindra.

The India visit of the Vietnamese Minister was made at the invitation of the National Institution for Transforming India (NITI Aayog). While in India, Dũng joined working sessions with leaders of Ministry of Commerce and Industry, Confederation of Indian Industry (CII), and visited Indian tech giants of Nasscom and Wipro. — VNS


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