An online business forum was held on October 20, aiming to enhance trade and investment ties between Vietnam and India, especially amidst the COVID-19 pandemic.
Indian Deputy Minister of External Affairs Riva Ganguly Das speaks at the forum. (Photo: VNA)
New Delhi (VNA) – An online business forum was held on October 20, aiming to enhancetrade and investment ties between Vietnam and India, especially amidst theCOVID-19 pandemic.
The event wasco-organised by the Indian Chamber of Commerce, and the Vietnam Chamber ofCommerce and Industry (VCCI) and the Investment Promotion Centre-South Vietnam(IPCS) under the Vietnamese Ministry of Industry and Trade.
The forum offered anopportunity for Vietnamese and Indian businesses to learn about mechanisms, policiesand laws, investment opportunities and market potential of the two countries.
Indian DeputyMinister of External Affairs Riva Ganguly Das affirmedthat Vietnam is a pillar in India’s Act East policy and an important partner inthe country’s Indo-Pacific Ocean Initiative whichis based on shared values and interests in promoting peace, stability andprosperity in the region,
She said two-way trade expanded from only 200 million USD in 2000 to 12.34billion USD in the 2019-2020 fiscal year.
As of June, India had about 278projects in Vietnam with total invested capital of 887 million USD, accordingto Vietnam's Foreign Investment Agency.
However, the Indian officialsaid, the bilateral trade has yet to match economic development of the twocountries, suggesting them make greater efforts to expand and enhance the relationsnot only in trade but also in other spheres.
Vietnamese Ambassador to IndiaPham Sanh Chau said Vietnam and India boast potential to boost their investmentlinks, citing the forecast of certain international banks that the two-waytrade would increase an additional 1.1 billion USD each year./.
Trade between Vietnam and India in August picked up 12 percent from July, reaching 1.02 billion USD despite the complications from the COVID-19 outbreak, according to the Vietnamese Trade Office in India.
Vietnam and India boast huge potential for trade cooperation across spheres, particularly in technology, mechanics, machinery, and joining the global supply chains following the COVID-19 pandemic, heard a conference on September 22.
Vietnam and India hold great potential in boosting trade of fruits, Shubhra, Adviser Trade from the Indian Ministry of Agriculture and Farmers’ Welfare, told a virtual workshop held by the Embassy of Vietnam in India and the Indian Importers Chambers of Commerce and Industry (IICCI) on October 7.
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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.
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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.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Indian Deputy Minister of External Affairs Riva Ganguly Das speaks at the forum. (Photo: VNA) 
