(VEN) - Trade and investment cooperation between Vietnam and India is on a fast track. In addition to the traditional areas of cooperation, the two countries are also developing new fields such as technology and digital economy. Vietnamese Deputy Prime Minister Trinh Dinh Dung spoke at the Vietnam-India Business Forum held in Hanoi on November 19 India is now one of Vietnam’s 10 largest trading partners. Two-way trade has increased over the years since the two countries established a strategic partnership, reaching US$7.63 billion in 2017, and US$8.3 billion in the first nine months of 2018. The two countries are working towards a goal of US$15 billion in bilateral trade. By September 2018, India poured US$877 million into 201 investment projects in Vietnam, ranking 29th among the 129 countries and territories investing in the country. Most of the projects focus on the manufacturing and processing industry, telecommunications, information technology and mining. Many major Indian corporations, such as TATA, ONGC and Essar have reported successful operations in Vietnam. According to the Indian Embassy in Vietnam, the Indian government has deployed a US$100-million package to support its companies investing in Cambodia, Laos, Myanmar, and Vietnam, with a focus on Vietnam’s garment and textile… Read full this story
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