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Thursday, June 13, 2024

Hanoi seeks to woo more Indian capital into Hoa Lac High-Tech Park

The Saigon Times

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HCMC – Hanoi City is actively seeking more investment from India into the Hoa Lac High-Tech Park, particularly in the pharmaceutical manufacturing sector, said Dinh Tien Dung, secretary of the provincial Party Committee, during a recent meeting with Indian Ambassador to Vietnam Sandeep Arya.

The city wants to tap the expertise of Indian companies.

Dung also encouraged Indian firms to invest in sectors such as processing and manufacturing industries, information and communications technology, energy, and high-tech agriculture.

Established in 1998, the Hoa Lac High-Tech Park is Vietnam’s first and largest park of its kind. As of 2020, the area had 93 investment projects with total pledged capital of over VND90.25 trillion. The park management, previously under the Ministry of Science and Technology, will soon be transferred to the Hanoi People’s Committee.

Ambassador Arya emphasized the Indian government’s intention to strengthen trade and investment cooperation with Vietnam.

In addition, both sides discussed various solutions to promote tourism activities between the two countries.

Hanoi has granted approval for India’s investment projects worth US$1.87 million in the first half of 2023, bringing the total pledge of Indian firms in the city to US$18.75 million since 1986.

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