Deputy Prime Minister Vuong Dinh Hue on November 2nd received the Confederation of Indian Industry (CII) led by Naushad Forbes, CII President and joint President of the Forbes Mashall Pvt. Ltd. Group, who is on a working visit to Vietnam.

Photo: VGP

According to CII President Naushad Forbes, at present, Indian businesses are investing in and developing infrastructure and thermo-electric projects in Vietnam.

He added that through business forums, Vietnamese and Indian businesses sought investment opportunities in Vietnam in alternative energy, information and technology, adaptation to climate change and other areas.

Representatives from the CII showed their trust in the good political, economic and trade relations between the two countries, saying that the current two-way trade turnover of USD5 billion did not match the potential, and confirming that they would do their utmost to increase long-term investment and trade cooperation among businesses of the two countries.

Indian businesses expressed their hope that the Vietnamese Government would tackle difficulties in cooperation projects in construction and transfer of technologies in some hydro-electric plants, automobile assembly and production, the system to prevent flood in urban areas, pharmacy and traffic infrastructure.

Receiving the delegation, Deputy Prime Minister Vuong Dinh Hue confirmed that Vietnam was always a destination for world’s large businesses.

According to the Vietnamese Deputy Prime Minister, Vietnamese laws are creating more favourable business environment for businesses while the Government targets to develop one million businesses by 2020. In that context, Vietnam will make the best conditions for both domestic and foreign investors, and wants to welcome more Indian investors to Vietnam, especially when Vietnam has become a member of 10 free trade agreements of important regions of the world, said the Deputy Prime Minister.

Deputy Prime Minister Vuong Dinh Hue assessed that CII members are strong businesses in India that are participating in areas which are priorities in Vietnam, including electricity, alternative energy and information and technology.

He added that Vietnam encouraged Indian investors to cooperate in textile and garment as well as leather footwear areas; transfer technologies and energy saving machines in the automobile manufacturing and construction industries; and promote cooperation in the Build - Operate – Transfer (BOT) and public–private partnership (PPP) forms with foreign partners./.

( Compiled by VNF )