On September 10, the Indian Chamber of Commerce (ICC) delegation visited, and the Indian Embassy in collaboration with Invest Global and the India Chamber of Commerce in Hanoi organized a workshop called “India-Vietnam Multi-Sector Business Exchange.”
Over 50 representatives from diverse industries attended the workshop to seek cooperation opportunities and business connections. This contributes to strengthening the relationship between Vietnam and India, based on the Joint Statement on Comprehensive Strategic Partnership and the Plan of Action for the 2024–2028 period, which was approved by the Prime Ministers of both countries in August.
Speaking at the event, Mr. Chinpau Ngaihte, First Secretary of the Indian Embassy in Vietnam, said that the cooperation relationship between Vietnam and India has surpassed 14 billion USD in 2023. Based on the comprehensive strategic cooperation between India and Vietnam, bilateral cooperation between the two countries has been expanded in various fields. Especially, the Prime Minister of Vietnam, Pham Minh Chinh, proposed to raise the bilateral trade turnover between the two countries to 20 billion USD in the near future.
Currently, many Indian businesses in the fields of auto parts production, pharmaceuticals, information technology, tea processing, coffee processing, renewable energy, oil and gas exploration and exploitation, etc., have been successful in the Vietnamese market. Some other Indian businesses are considering and carefully studying to find investment opportunities in Vietnam in fields such as mineral processing, pharmaceuticals, waste treatment, information technology, seaport infrastructure, and agricultural products…
In addition, with the goal of growing India’s economy to 5 trillion USD, the Indian government has been implementing many growth policies to improve the investment and business environment and support and create many investment opportunities for international businesses to develop. Therefore, the Indian government welcomes Vietnamese businesses to consider investing in the Indian market, especially in Vietnam’s strengths such as electronics, electric vehicles, wood processing, telecommunications, digital technology, and tourism. “The Indian Embassy in Vietnam is ready to support and assist businesses in seizing these cooperation and development opportunities,” emphasized Mr. Chinpau Ngaihte.
With many years of experience in renewable energy projects, environmental protection, wastewater treatment, infrastructure development, and tourism trade…, Mr. Bui Trong Thoan, Deputy General Director of Invest Global, said that the company has signed many agreements with large Indian chambers of commerce and associations, thereby seeking and creating investment and business cooperation opportunities between the two countries. This contributes to promoting Vietnam’s economic development and enhancing its position in the world.
According to Dr. Rejeev Singh, Director-General of the India Chamber of Commerce and head of the ICC delegation, in the past year, ICC had nine cooperation programs with Vietnam, including five Indian delegations visiting Vietnam and four Vietnamese delegations visiting India.
After the Covid-19 pandemic, the world order has changed significantly. India is undergoing a strong revolution with a population of 1.4 million, with an increasing proportion of middle-class people. Therefore, many countries in the world have chosen India as a reliable partner and want to establish a global supply chain. Vietnam has always been a country that maintains good relations with the Indian government and businesses.
According to Mr. Indronil Sengupta, Chairman of the India Chamber of Commerce in Hanoi, there are three main reasons for these positive developments.
First, Vietnam has a population of nearly 100 million people and is in the prime of its population with a high consumption capacity.
Second, Vietnam ranks second in ASEAN, after Singapore, in signing free trade agreements with many large countries and organizations worldwide. This greatly supports Indian businesses in accessing multiple countries worldwide.
Third, the enthusiastic support from the Vietnamese government for industrial parks and economic zones has benefited Indian and international businesses. This support has made it easier for businesses to enter the market and reduced the time and administrative procedures required to quickly operate production and business systems…
A Call to Action: Global Community, Unite to Provide Relief and Aid for the Devastation Caused by Storm No. 3
As of the morning of September 9, the third storm had claimed 26 lives, with many more missing. The storm has wreaked havoc on agriculture, with over 113,593 hectares of rice and 22,047 hectares of crops submerged, and 6,887 hectares of fruit trees destroyed. The impact on infrastructure is also devastating, with 121,668 trees uprooted and 9,851 homes damaged. The aftermath of this storm has been nothing short of catastrophic, and Vietnam is in dire need of international aid to recover and rebuild.
“The Economic Impact of Storm Yagi in Vietnam: A Devastating Blow to Agriculture”
On the morning of September 8, the tropical depression, which had weakened from the third storm, further weakened into a low-pressure area in the Northwest region. It continued to move westward before dissipating entirely.
The Sweet Success of Vietnam’s Sugarcane Industry: Climbing to the Top
Since 2021, Vietnam’s domestic sugar industry has been witnessing a resurgence, following the implementation of trade defense measures on imported sugarcane products. Between 2011 and 2021, sugarcane fields witnessed a decline from 283,000 hectares in the 2011/12 crop year to just 146,938 hectares in the 2021/22 crop year. However, in the last three years, there has been a notable turnaround, with sugarcane fields now covering nearly 175,000 hectares, indicating a sweet revival for the industry.
The Devastating Floods in Northern Vietnam: An Urgent Crisis
The Vice Minister of Agriculture and Rural Development has issued a statement regarding the severe flooding in the northern provinces. The official stressed the urgency of the situation, urging local authorities to take proactive and aggressive action to support and safeguard the lives and property of those affected.
The Road Less Travelled: Uncovering the Beauty of the Thai Nguyen – Cho Moi Highway
The Vietnam Road Administration reports that the Thai Nguyen – Cho Moi Highway in Thai Nguyen City is currently experiencing severe flooding, with water levels reaching depths of 0.6 to 1.2 meters. This has resulted in significant traffic disruptions, and all vehicles traveling through this area have been temporarily halted.
