Immense scope for investment, trade between India, Vietnam

Ho Chi Minh City India and Vietnam have shown a steady growth pattern and there is immense scope for investments and trade between both the countries, Indian envoy here has said. As both the countries are growing rapidly, the thrust areas have been emphasised on infrastructure, manufacturing and connectivity for increased bilateral trade and investments between India and Vietnam, Ambassador Sandeep Arya told PTI at the North East India Festival (NEIF) being held here. A steady growth pattern has been witnessed in the trade between the two countries with USD 15 billion in total trade, out of which India exports about seven billion dollars and Vietnam about eight billion dollars, he pointed out. Foreign Direct Investments (FDI) have also grown by about eight times during the last ten years while the export growth of domestic enterprises was three times during the same period between the two countries.

“There is immense potential for growth of trade and investments between the two countries and is particularly relevant for North Eastern states,” the ambassador said. The most important factor for increasing trade relations between Vietnam and North East India is civil aviation connectivity, he said. “Guwahati is already among the approved list of airports and as such the Government of India’s approval is not really necessary to start operations in the sector.