Vietnam is looking at possible investment from Indian textile and trim manufacturing companies as the country is majorly dependent on China for the same.
Vietnam’s trade deficit with China is continuously growing – widening from US $ 11.05 billion to US $ 16.29 billion in the first 6 months of 2019.
Pham Sanh Chau, Ambassador of Vietnam to India, Nepal and Bhutan today said that Indian companies are welcome in Vietnam and will get all support. He added “Our country is doing good in apparel export and we need companies that can support us for raw material.”
He was speaking at the Vietnam Trade, Investment, Tourism Promotion Forum held in Delhi today.
Apart from Meenakshi Lekhi, Member of Parliament and OP Lodhia, CMD, Indo Rama Synthetics, the event in Delhi witnessed many industry delegations from both the countries representing their companies and services.
Having good representation from various industries, the event saw interesting discussions. Various senior officials and industry representatives from Vietnam and India shared their views on how to increase mutual business between India and Vietnam.
A similar event would take place in Mumbai on 19 November.
It is pertinent to mention here that direct flights between India and Ho Chi Minh City, the most populous city as well as the financial centre of Vietnam, will also boost mutual trade opportunities.
Only last month, IndiGo had launched direct flights from Kolkata to Ho Chi Minh City and come December, Vietnam-based airline Vietjet is all set to start a direct flight from Delhi to Ho Chi Minh City.