Vietnam, India to cooperate in joint venture projects

The Vietnam Chamber of Commerce and Industry in Ho Chi Minh City and the Federation of Indian Chamber of Commerce and Industry held a conference on June 26 to promote cooperation and joint investment projects between Vietnam and India.

Up to now, 150 Indian enterprises have invested in Vietnam and India ranks 30th out of 101 countries that are investing in Vietnam.

At the conference, the Indian side hoped that Vietnam would further strengthen cooperation between the two countries in various fields such as textiles and food products.

In the textile sector, India is strong in the fabrics and materials sector and Vietnam has strength in production of textiles and hence this provides a good opportunity for the textile industry to develop jointly.

The food sector too is huge in India and the domestic food market is expected to reap nearly US$258 billion by 2015.

Currently, India is encouraging Vietnam to enhance research and investments in the food processing sector in India.

By Thuy Hai – Translated by Huyen Huong

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