Indian engineering firm wants to enter Vietnamese market
General Manager of International Business at Escorts Sonal Tyagi has expressed his wish to build tractor manufacturing facilities in Vietnam and transfer technology to Vietnamese partners.
New Delhi (VNA)🔯 – General Manager of International Business at Escorts – India’s leading engineering group operating in agriculture and construction machines, Sonal Tyagi, has expressed his wish to build tractor manufacturing facilities in Vietnam and transfer technology to Vietnamese partners.
During a working session with a delegation from the Vietnamese embassy’s Trade Office in India, Tyagi hailed Vietnam as a market with human resources of importance to Escorts.
He hoped that Vietnam could become a centre of manufacturing tractors for domestic use and export to third countries, particularly ASEAN member states.
Escorts was established in 1944 and began manufacturing tractors in 1969. Its major markets are Europe and Africa, not to mention a massive distribution network spreading across more than 40 countries, including Laos, Cambodia, Myanmar, Indonesia and Malaysia.
It has a 600-strong staff working in seven factories in Faridabad city and a training centre in Bangalore city, he said.
Vietnamese Ambassador Ton Sinh Thanh, for his part, urged Indian firms, including Escorts, to invest in building factories and assembly lines in Vietnam.
He pledged that the Vietnamese embassy in India is ready to offer all possible support to Indian firms and Escorts in particular to seek business opportunities.
Both sides discussed Escorts’ strength and potential as well as the possibility of partnering with major Vietnamese engineering enterprises in farming and construction.
Following the working session, the Vietnamese delegation visited Escorts’ tractor manufacturing factory.-VNA
The nation's industrial production value this month is estimated to grow by 16.1 percent to 73.7 trillion VND (3.5 billion USD) against the same period last year, according to the General Statistics Office.
Vietnam and India have made significant progress in textile and garment trade last year, said Deputy Minister of Industry and Trade Do Thang Hai on March 15.
A Vietnam- India Business Forum was held at the headquarters of the Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi, India on March 16.
Vietnam will create favourable conditions for and offer incentives to Indian firms to invest in Vietnam, said Vietnamese Ambassador to India Ton Sinh Thanh.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative image (Source: VNA)
