Indian building material firms eye opportunities in Vietnam
VOV.VN - The Vietnam - India trade exchange programme was held in Ho Chi Minh City on August 23 in order to help Indian building material firms seek greater opportunities in the Vietnamese market.
The event was jointly held by the Ho Chi Minh City branch of the Vietnam Chamber of Commerce and Industry and India’s Emerald Worldwide Connections Company.
Addressing the programme, Vishal Acharya, a representative of Emerald Worldwide Connections, revealed that many Indian businesses operating in the building materials industry are hugely enthusiastic on the Vietnamese market and have plans to launch a production base or a factory in the country.
The exchange programme also offered an ideal forum for Vietnamese and Indian firms to expand their partnership, and ramp up investment co-operation in the field of ceramic tile products of all types.
Moreover, the Ceramics & Bath Industry Show (CBIS), which is slated to take place ahead in January, 2023, in India, was introduced at the event.
Acharya hoped the CBIS would create opportunities to boost investment and trade co-operation between businesses of both countries.
Local firms will be able to get updated information about products, technologies, and markets, as well as enjoying incentives and support for foreign firms whilst surveying production factories in India, said Acharya.
Vietnam and India have set a goal of bringing two-way trade turnover to US$15 billion moving forward. As of June 20, India ranked 24th out of 139 countries and territories investing in the Vietnamese market, with 328 projects valued at over US$1 billion. Indian invested projects primarily focus on oil and gas exploitation, mineral processing, information technology, and agricultural products.
At present, India is among the leading 10 trading partners of Vietnam, while Vietnam is considered a key country in India's "Look East Policy".
