HCMC – Vietnam and India are poised to enhance their collaboration in the manufacturing sector, particularly in construction and processing industries, according to insights shared at a recent conference.
The conference, aimed at boosting trade connectivity between Vietnam and India, was organized by the Ho Chi Minh City Investment and Trade Promotion Center (ITPC) in partnership with the Confederation of Indian Industry (CII) and the Mechanical-Electrical Enterprises Association (HAMEE) on July 18.
Dao Minh Chanh, vice director of ITPC, highlighted the successful strategic partnership between Vietnam and India, noting significant achievements across various fields, especially in trade.
According to the General Department of Vietnam Customs, bilateral trade between the two nations surged from US$200 million in 2000 to US$14.36 billion in 2023, making India Vietnam’s 8th largest trade partner.
In the first half of this year, trade turnover between Vietnam and India reached an estimated US$7.18 billion. Specifically, HCMC exports to India amounted to US$240 million, an 18% increase from the previous year.
Experts at the conference emphasized the substantial potential for deeper cooperation in key sectors, including mechanics, electronics, digital technology, and energy.
To capitalize on these opportunities, the mechanical-electrical enterprise association plans to collaborate with Indian counterparts to organize investment promotion and trade conferences, aiming to boost direct investment and business partnerships.
