Viet Nam to Open Doors to Indian Investors: PM Dung

Prime Minister Nguyen Tan Dung spent yesterday, the second day of his State visit to India, meeting with heads of India’s leading corporations and addressing the India - Viet Nam Business Forum where he affirmed that Viet Nam would open its doors widely to Indian investors.

Prime Minister Nguyen Tan Dung speaks at the India -Viet Nam Business Forum

During the forum at Mumbai City in Maharastra state, PM Dung reiterated Viet Nam’s policy to create good conditions for and open its doors to Indian investors, particularly in their strong fields which can facilitate the country’s development, such as information technology, power, oil and gasoline, energy, metallurgy, coal, transportation, fisheries, food processing, health and medicine.
 
As many as 300 representatives from Indian enterprises and an additional 100 Vietnamese business representatives that form part of the traveling delegation attended the forum.

Earlier in the day, PM Dung met with leaders of Indian leading groups, including Oil and Natural Gas Corp. Ltd. (ONGC), Reliance Industries Limited, India’s flagship Natural Gas Co. (GAIL), Aditya Birla Group, Satyam Computer Services Ltd., Infosys Technologies Ltd., NIIT Technologies Ltd., Ranbaxy Laboratories Ltd., and Essar Steel.
 
At the business roundtable, the Vietnamese leader praised impressive achievements in trade and investment that have been obtained through the traditional friendship and comprehensive cooperation between the two nations.
 
PM Dung told the leaders of energy, IT and pharmaceutical firms that they are at the forefront of the development of economic relations between the two countries.
 
“Recent projects invested in by your global conglomerates such as the Oil and Natural Gas Corporation and steel maker Tata have catapulted India into the list of top ten foreign investors in Viet Nam and helped usher in a new phase in the two countries’ investment relations,” he said.
 
The Vietnamese leader spoke highly of ONGC’s effective oil exploration, Reliance’s newly-opened representative office, NIIT’s 24 IT centers and Ranbaxy’s joint venture in Viet Nam.
 
He said that India and Viet Nam share similar experiences of rapid economic growth and Viet Nam has placed huge energy demands on the country, leading his administration to focus on the development of the oil and gas, energy and petrochemicals industries.

Mr. Dung said that Viet Nam has placed a high priority on information technology and is actively seeking investment, joint ventures and human resources development in the area.
 
Indian businesspeople expressed their appreciation of Viet Nam’s rapid economic development, adding that they consider Viet Nam as a potential investment market.
 
Indian investors pledged to further expand their investment in Viet Nam, in the short term, they invested over US$1 billion in the country’s petroleum and steel processing industries.
 
Following the business forum, PM Dung toured the IT Park, “Knowledge City”, of Reliance Group and left for the capital city New Delhi.

Source: SGGP, VNA – Translated by Yen Chuong

Other news

Most view

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

185 leading domestic & in't enterprises join in VN ETE 2018

The Vietnam Exhibition of Electrical Technology and Equipment (Vietnam ETE 2018) and the Exhibition of Products, Technologies for Energy Saving and Green Power (ENERTEC EXPO 2018) yesterday kicked off in HCMC’s Saigon Exhibition Convention Center in district 7.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

SAS profits VND 118bln

The Southern Airports Service Joint Stock Company (Sasco) which is listed under code SAS on the Unlisted Public Company Market (UPCoM), announced its second quarter’s financial report with net revenue at VND 634.5billion, an increase of 14 percent compared to last year.