India Navigates the Global Economic Order
	Vietnam, India to Strengthen Relations Between Political Parties

Consul General of Vietnam in Mumbai (India) Le Quang Bien affirmed that the Vietnam-India Comprehensive Strategic Partnership has recently achieved important progress in many fields, including important areas of economic and trade cooperation in which the two countries are striving to bring bilateral turnover to US$20 billion.

President To Lam receives Indian Ambassador to Vietnam Sandeep Arya. Photo: VNA

According to Le Quang Bien, both Vietnam and India are rapidly developing economies with diverse strengths. Therefore, the potential to enhance bilateral trade and investment cooperation between the two countries is huge.

While India considers Vietnam a key pillar in its "Act East" policy, and an important partner in the Indo-Pacific vision, Vietnam has always given high priority to its policies of promoting comprehensive cooperation with India, especially in the fields of economics, trade and investment.

Based on these favorable conditions and the complementary strengths of the two economies, the following areas promise many opportunities for enhanced cooperation.

Specifically, in the manufacturing sector, Vietnam is emerging as an important manufacturing center in Southeast Asia, with a strong focus on the electronics, textile, and automobile industries.

India also has a growing production capacity along with abundant raw materials, and a skilled workforce, which is a suitable complement to Vietnam's strong manufacturing sectors.

By taking advantage of Vietnam's strategic position as an important gateway to ASEAN and the free trade agreements that Vietnam has signed, Indian businesses can access a large consumer market in ASEAN and worldwide.

As for the technology sector, both Vietnam and India boast vibrant tech ecosystems with growing startups focused on innovation.

The two sides should strengthen cooperation in this area by increasing joint research and ventures, technology transfer initiatives and strategic partnerships in the fields of information technology services, financial technology, e-commerce and renewable energy.

Regarding the agricultural sector, the two sides should exchange best practices on technology transfer, and investment in the fields of cultivation, agribusiness, food processing and agricultural infrastructure.

By leveraging each other's strengths, both sides can increase agricultural productivity, ensure food security and meet the growing demand for high-quality food products both domestically and internationally.

Regarding the renewable energy sector, due to early recognition of the important role of the renewable energy industry in promoting economic growth and environmental sustainability, Vietnam has taken a series of measures, and achieved significant progress in promoting sustainable energy initiatives, including supportive policies, capacity building efforts and infrastructure development.

Through technology transfer, knowledge sharing and joint research and development initiatives, India can support Vietnam in tapping into its solar, wind and hydropower production potential.

In the field of tourism, both countries possess their own strengths. They have also organized many important tourism promotion events in each other's localities, demonstrating their efforts, and determination. It helped to strengthen bilateral cooperation between management agencies and tourism businesses of the two countries.

Indian tourists visit My Son Sanctuary. Photo: VNA

In the field of connectivity, air connections between India and Vietnam have grown significantly in recent years, strongly promoting tourism between the two countries.

Since the launch of the first direct flight connecting Hanoi and Ho Chi Minh City with New Delhi in 2019, flights connecting the two countries have increased rapidly.

There are currently up to 70 direct flights per week connecting India and Vietnam operated by Indian (Indigo, Air India) and Vietnamese (Vietnam Airlines, Vietjet Air) airlines, showing travel demand. Tourism between the two countries is constantly increasing.

These direct flights have significantly facilitated the travel of tourists, businessmen and individuals wishing to explore the business opportunities, cultural, historical and natural attractions of both countries. Having multiple direct flights each week gives travelers more flexibility in planning their trips, as well as promoting people-to-people exchanges between India and Vietnam.

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