During a working session with representatives from the provincial People’s Committee on December 19, Rafiv Bodwade said Indian firms have noticed many investment opportunities in Vietnam, especially in Binh Duong – an industrial hub located in the southern key economic area.
Indian enterprises give priorities to investing in the fields of agriculture, pharmaceutics and renewable energy, he stressed.
Vice Chairman of the provincial People’s Committee Tran Thanh Liem briefed the guests on the locality’s socio-economic development, noting that Binh Duong has 29 industrial parks and eight industrial clusters with a total area of over 10,000 ha.
The locality has so far attracted US$28.5 billion in foreign direct investment (FDI) from 3,360 enterprises, but Indian-run projects number only five with a total investment of US$170 million, he said.
Binh Duong is calling for investment in projects on large scale which use advanced technologies with less labour and create high added-value products, he added.
India has 134 investment projects worth US$1.1 billion in Vietnam. Two-way trade in 2017 hit over US$10 billion, year-on-year increase of 29%. The two nations aim to lift their trade to US$15 billion by 2020.