Chandigarh, March 11: To explore the business opportunities between the two countries, ASSOCHAM Northern Region has organized the India-Vietnam Business Forum at Hotel Holiday Inn, Panchkula on Thursday, with the support of the Embassy of Vietnam in India.
HE Mr. Pham Sanh Chau, Ambassador of Vietnam to India was the special guest on the occasion.
As both countries look to bounce back after the pandemic, the India-Vietnam relationship remains strong with significant potential estimated at US$1.1 billion in bilateral trade volume.
Addressing the INDIA – VIETNAM BUSINESS FORUM, HE Mr. Pham Sanh Chau, Ambassador of Vietnam said, “According to Vietnam’s Foreign Investment Agency, India has 294 valid projects with a total invested capital of 898.65 million USD as of December 2020, ranking 26th among nations investing in Vietnam.”
“India’s major sectors of investment are energy, mineral exploration, agro-processing, sugar, tea, coffee, agrochemicals, IT, and auto components. Vietnam, too has invested in six projects in India with an estimated investment of 28.55 million USD, primarily in the areas of pharmaceuticals, IT, and building materials,” he added.
Present on the occasion, Davinder Singh Thapar, Consulate General of Vietnam at Chandigarh while outlining the vitality of North Indian talents said that India has a large pool of scientists and engineers with the potential to steer the industry ahead to greater heights against measuring the market size of Vietnam which is nearly 100 million of population.
“India has a longstanding development with Vietnam that has made positive contributions towards capacity building and socio-economic development of Vietnam. India has also been providing assistance to Vietnam within the ASEAN framework.” Thapar said.
This Business Forum is important considering India and Vietnam’s strong bilateral relations, and for the past two decades, trade between the two countries has risen considerably. These economic ties have materialized into several Indian investments in Vietnam in various sectors.
Talking about the potential of medicinal herbs in the world, Mr. Jitender Sodhi, Chairman, MD, Ayush Herbs said, “Ayurveda is the science of life, this is such a medicine available in the world for more than 5000 years. It is existing because it has deep some roots.”
The event was supported by Sonalika Group, GNA Axels Ltd, and Ayush Group of Companies of India.