India firms seek investment opportunity in Binh Duong
A delegation from the Confederation of Indian Industry (CII) led by First Secretary of the Indian Embassy in Vietnam Rafiv Bodwade has paid a field trip to the southern province of Binh Duong to seek investment opportunities in the locality.
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Vice Chairman of the provincial People’s Committee Tran Thanh Liem briefed the guests on the locality’s socio-economic development, noting that Binh Duong has 29 industrial parks and eight industrial clusters with a total area of over 10,000 ha.
The locality has so far attracted US$28.5 billion in foreign direct investment (FDI) from 3,360 enterprises, but Indian-run projects number only five with a total investment of US$170 million, he said.
Binh Duong is calling for investment in projects on large scale which use advanced technologies with less labour and create high added-value products, he added.
India has 134 investment projects worth US$1.1 billion in Vietnam. Two-way trade in 2017 hit over US$10 billion, year-on-year increase of 29%. The two nations aim to lift their trade to US$15 billion by 2020.
