Vietnam and Andhra Pradesh examine investment opportunities

VOV.VN - Nearly 100 Vietnamese and Indian firms attended a webinar on April 13 to seek business and investment cooperation opportunities between Vietnam and the Indian state of Andhra Pradesh.

In his opening remarks, Vietnamese Ambassador to India Nguyen Thanh Hai briefed participants on Vietnam’s major socio-economic development achievements, saying despite the global economic slowdown, Vietnam secured a growth rate of 8.02% last year, among the highest in the region and the wider world. The country’s import-export turnover hit a record high of US$732.5 billion, representing a year-on-year rise of 9.5%.

Vietnam is considered a destination for FDI attraction thanks to its stable macroeconomic environment and good ability to control inflation, emphasized the diplomat.

Meanwhile, Madan Mohan Sethi, consul general of India in Ho Chi Minh City, revealed all Vietnamese localities are developing rapidly and they have reaped encouraging economic gains. In Ho Chi Minh City alone, he said there are approximately 300 Indian firms are operating in the locality, the largest economic and financial hub in Vietnam.

Most of the localities are in different stages of development and are quite well connected by highways and by air, he said, adding Mekong delta localities mainly produce food, fruit and marine products, while some localities are seeking investment opportunities in food processing.

Valarmathi Valaven, head of the Andhra Pradesh agency in charge of commerce and industry, affirmed that the government of Andhra Pradesh creates favourable conditions for foreign investors and businesses to operate successfully in the state.

He highly appreciated the role of the state government in promoting investment and trade exchange activities with Vietnamese enterprises. He suggested that the two sides work together to support business connections, thereby helping to create more jobs and improve workers’ incomes.

Andhra Pradesh has been one of the most dynamic developing states in India over the past five years. The state has the potential to cooperate with Vietnam in the fields of fisheries, agricultural production, garment making, information technology, seaports and logistics.

The webinar was jointly held by the Vietnamese Trade Office in India and the Indian State of Andhra Pradesh.

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