India's Pioneer Media on TradeFairs

PDA Ventures in talks with Vietnam Minister of Planning and Investment for attracting foreign investments in Vietnam

Deputy Minister Dong said that the negative effects of the pandemic, climate change, and global economic crises have harmed Vietnam’s economic growth. Despite the challenges, the country has implemented a variety of measures to overcome them and has effectively recovered from the pandemic.

GDP in the first six months of 2022 increased by 6.42%; total import and export turnover reached 371.17 billion USD, a year-on-year increase of 16.4%; FDI disbursement raised by about 9%. 6. Despite strong impacts on world fuel and raw materials prices, Vietnam managed to control inflation and stabilize the macro-economy., he said these are a blueprint for a more prosperous future in 2023.

He emphasised that the scale of India’s investment in Vietnam does not commensurate with the potential of cooperation between the two countries, including investment and export-import. Room remains to boost Vietnam-India cooperation in the coming time, said the deputy minister.

Vietnam pays particular attention to win-win cooperation and changes to priotising large enterprise with high technology, corporate governance capacity, and technology transfer, focusing on some fields such as high-technology, innovation, digital economy promotion, etc that create favorable conditions for Vietnamese enterprises to participate in the value chain.

With strong commitment at the COP26 to reach net-zero emissions and in the context of the fourth industrial revolution, the country attaches great importance to high-tech projects, environmental protection investment, modern management, high-added value and production and supply chains connection.

For his part, Pradeep Deviah informed his host on the coordination between PDA Ventures and Vietnamese association of foreign invested enterprises (VAFIE) and Vietfair company in organising an international forum and exhibition on FDI in the first quarter of 2023 in Vietnam.

The forum and expo aims to promote Vietnam as an investment destination and promote partnerships, share experiences, establish joint ventures and attract FDI; and it will foster trade potential of cooperation between Vietnam, India and other countries. Through the conference, foreign firms will see the investment policies and environment of Vietnam and more investors will be interested in expanding business, he said.

Deputy Minister Dong highly appreciated the plan to organise the forum and expo, addressing that the time is appropriate because 2023 is the 50th anniversary of diplomatic relations between Vietnam and India. He urged PDA Ventures and partners to speed up procedures for the two events to be held on schedule and to promote Vietnam’s potentials.