Economy should lie at the heart of India-Vietnam relations, according to an article posted on the Times of India on February 27 on the occasion of the upcoming visit to India by Vietnamese President Tran Dai Quang from March 2-4.
Economy should lie at the heart of India-Vietnam relations (Illustrative image. Source VNA)
New Delhi (VNA) – Economy shouldlie at the heart of India-Vietnam relations, according to an article posted onthe Times of India on February 27 on the occasion of the upcoming visit toIndia by Vietnamese President Tran Dai Quang from March 2-4.
Titled “Move on Economics: Vietnam President’supcoming visit should boost bilateral trade and business ties”, the articlecited a recent survey showing Vietnam was one of the fastest growing economiesbetween 2007 and 2017.
꧃ The country’s gross domestic product (GDP)expanded 6.7 percent last year with the total volume of trade reaching a record425 billion USD, of which exports accounted for 200 billion USD.
Vietnamalso received 33 billion USD in foreign investment in 2017, a factor that willspur greater growth this year. Even the World Bank estimates greater growth forVietnam in 2018.
💯 These accomplishments were a direct result ofeconomic reforms called Doi Moi that Vietnam launched in the 1980s.
DoiMoi laid the foundation for Vietnam to adopt technology and make significantimprovements in its labour market. The Vietnamese economy gradually opened up,spurring growth. Thisgave Vietnam the confidence to conclude 16 bilateral and regional free tradeagreements over a couple of years, the article said. Today,Vietnam enjoys significant global value chain linkages with China, Japan andthe Republic of Korea, which is beneficial for Vietnam’s export growth ofelectronics, apparel, food and beverages. Allof these things make Vietnam an ideal economic partner for India in SoutheastAsia, the article said, adding that this also makes the India-Vietnamrelationship a key pillar of New Delhi’s Act East policy.
Bilateraltrade hit 7.6 billion USD in 2017, representing a year-on-year rise of 40percent. However, there is still room for growth, the article stressed.
It emphasised that President Quang’s visitexemplifies the growing relationship between New Delhi and Hanoi as it comesjust a month after Vietnamese Prime Minister Nguyen Xuan Phuc travelled to NewDelhi for the Indo-ASEAN Commemorative Summit and India’s Republic Daycelebrations, highlighting the importance of India-Vietnam ties.
President Quang will be accompanied by a largegroup of entrepreneurs –demonstrating the economic aspect of the visit.
𝔍 In fact, President Quang is expected to witnessthe signing of bilateral Memoranda of Understanding regarding a joint ventureon a coal terminal in Vietnam, joint port development and cooperation inagriculture.
ThePresident will also preside over the launching ceremony of a direct air routebetween India and Vietnam.-VNA
Trade in paper between Vietnam and India is quite low and there is significant potential for growth, a meeting between Indian and Vietnamese paper companies heard in HCM City on February 9.
Vietnam always treasures and encourages foreign investors, including those from India, to invest and do business in the country, President Tran Dai Quang told Indronil Sengupta, Chief Executive – Vietnam at Tata Sons.
The upcoming State visit to India by Vietnam’s President Tran Dai Quang, from March 2-4, is expected to help promote cooperation between the two countries, while deepening ties in national defence and security, said Vietnamese Ambassador to India Ton Sinh Thanh.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Economy should lie at the heart of India-Vietnam relations (Illustrative image. Source VNA) 
